https://www.taxtmi.com/caselaws?id=2973 SC held that the tax department erred in treating the value of employee stock options held through a trust as a perquisite for AYs 1997-2000 and in treating the company as an assessee in default for failing to deduct TDS under s.192, with consequent invocation of ss.201(1) and 201(1A) being unwarranted. The Court relied on non-transferability, lock-in restrictions, absence of realizable sale value when options were exercised, and the post-2000 valuation provisions, and dismissed the appeals while reserving no opinion on law after 1.4.2000. en-us Fri, 04 Jan 2008 00:00:00 +0530 Fri, 12 Sep 2025 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2973 SC held that the tax department erred in treating the value of employee stock options held through a trust as a perquisite for AYs 1997-2000 and in treating the company as an assessee in default for failing to deduct TDS under s.192, with consequent invocation of ss.201(1) and 201(1A) being unwarranted. The Court relied on non-transferability, lock-in restrictions, absence of realizable sale value when options were exercised, and the post-2000 valuation provisions, and dismissed the appeals while reserving no opinion on law after 1.4.2000. Case-Laws Income Tax Fri, 04 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2973