https://www.taxtmi.com/caselaws?id=1771 The court held that the assessee-company was not liable to deduct TDS under section 192 of the Income-tax Act for shares issued under a stock option plan, as the shares did not constitute a perquisite. The court emphasized that the shares were subject to conditions and were not directly provided by the employer, thus not falling under the definition of salary or perquisite. Additionally, the court found that the later introduction of section 17(2)(iiia) indicated that such shares were not intended to be treated as perquisites for the relevant assessment year. The court ruled in favor of the assessee, recognizing the importance of stock options in fostering industrial harmony and economic growth. en-us Fri, 15 Dec 2006 00:00:00 +0530 Sat, 02 Aug 2008 18:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1771 The court held that the assessee-company was not liable to deduct TDS under section 192 of the Income-tax Act for shares issued under a stock option plan, as the shares did not constitute a perquisite. The court emphasized that the shares were subject to conditions and were not directly provided by the employer, thus not falling under the definition of salary or perquisite. Additionally, the court found that the later introduction of section 17(2)(iiia) indicated that such shares were not intended to be treated as perquisites for the relevant assessment year. The court ruled in favor of the assessee, recognizing the importance of stock options in fostering industrial harmony and economic growth. Case-Laws Income Tax Fri, 15 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1771