https://www.taxtmi.com/caselaws?id=77172 The High Court of Karnataka ruled in favor of the Revenue in a case concerning the treatment of a difference in the market value of shares as escaped income. The Court held that the assessee, an employee, did benefit from the share allotment and qualified as a promoter under section 17(2)(iii) of the Income-tax Act. The Court set aside the Tribunal's decision, reinstated the initial assessment order, and confirmed the decisions of the Assessing Officer and Commissioner of Income-tax (Appeals). en-us Thu, 03 Jan 2008 00:00:00 +0530 Sat, 02 Feb 2013 14:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77172 The High Court of Karnataka ruled in favor of the Revenue in a case concerning the treatment of a difference in the market value of shares as escaped income. The Court held that the assessee, an employee, did benefit from the share allotment and qualified as a promoter under section 17(2)(iii) of the Income-tax Act. The Court set aside the Tribunal's decision, reinstated the initial assessment order, and confirmed the decisions of the Assessing Officer and Commissioner of Income-tax (Appeals). Case-Laws Income Tax Thu, 03 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77172