https://www.taxtmi.com/caselaws?id=191114 The High Court upheld the Tribunal's decision, ruling that no addition under section 69 was sustainable on the purchase of shares below market price, as they were considered investments with a lock-in period and not subject to taxation as a benefit or perquisite under section 28 (iv). The Court found no substantial legal question and dismissed the appeal, also affirming that despite pledging the shares at market value for a loan, no benefit or perquisite arose from the transaction with the sellers. en-us Mon, 20 Oct 2008 00:00:00 +0530 Tue, 21 Mar 2017 13:23:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191114 The High Court upheld the Tribunal's decision, ruling that no addition under section 69 was sustainable on the purchase of shares below market price, as they were considered investments with a lock-in period and not subject to taxation as a benefit or perquisite under section 28 (iv). The Court found no substantial legal question and dismissed the appeal, also affirming that despite pledging the shares at market value for a loan, no benefit or perquisite arose from the transaction with the sellers. Case-Laws Income Tax Mon, 20 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191114