https://www.taxtmi.com/caselaws?id=75289 Employee stock option benefits under a concessional share issue were treated as not taxable salary income for the relevant assessment year because there was then no legislative mandate to tax the benefit as a perquisite. The lock-in period and the absence of realizable value on the date of exercise meant the benefit was only potential and could not be valued for TDS purposes under section 192. On that basis, the employer could not be treated as an assessee in default under section 201(1) or made liable for interest under section 201(1A), and section 17(2)(iiia) did not fasten the disputed liability for that period. en-us Thu, 29 Jan 2009 00:00:00 +0530 Mon, 05 Apr 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75289 Employee stock option benefits under a concessional share issue were treated as not taxable salary income for the relevant assessment year because there was then no legislative mandate to tax the benefit as a perquisite. The lock-in period and the absence of realizable value on the date of exercise meant the benefit was only potential and could not be valued for TDS purposes under section 192. On that basis, the employer could not be treated as an assessee in default under section 201(1) or made liable for interest under section 201(1A), and section 17(2)(iiia) did not fasten the disputed liability for that period. Case-Laws Income Tax Thu, 29 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75289