https://www.taxtmi.com/caselaws?id=76458 The court quashed the order for refund and interest, ruling that the allotment of shares did not attract a liability to deduct tax at source. The court found the assessability of the perquisite value of stock options under the ESOP Scheme unjustified and directed a refund with interest. Despite arguments on the refund claim timeline and liability for tax payment, the court held that the petitioner was entitled to a refund of the tax deducted, following the Karnataka High Court's decision. The writ petition was allowed without costs by the Madras High Court. en-us Fri, 12 Mar 2010 00:00:00 +0530 Tue, 06 Sep 2011 18:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76458 The court quashed the order for refund and interest, ruling that the allotment of shares did not attract a liability to deduct tax at source. The court found the assessability of the perquisite value of stock options under the ESOP Scheme unjustified and directed a refund with interest. Despite arguments on the refund claim timeline and liability for tax payment, the court held that the petitioner was entitled to a refund of the tax deducted, following the Karnataka High Court's decision. The writ petition was allowed without costs by the Madras High Court. Case-Laws Income Tax Fri, 12 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76458