https://www.taxtmi.com/caselaws?id=359363 The Supreme Court dismissed the Revenue's appeals, affirming the High Court's decision that the amount received on redemption of Stock Appreciation Rights (SARs) was not taxable as a perquisite under Section 17(2)(iii) or as a benefit under Section 28(iv) of the Income Tax Act. The Court held that the tax laws must be strictly interpreted, and without a clear legislative mandate, benefits cannot be taxed retrospectively. It was emphasized that the amendment introduced by the Finance Act, 1999, was not clarificatory and could not be applied retrospectively, further supporting the non-taxability of the amount received by the Respondent. en-us Tue, 24 Apr 2018 00:00:00 +0530 Thu, 31 May 2018 16:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359363 The Supreme Court dismissed the Revenue's appeals, affirming the High Court's decision that the amount received on redemption of Stock Appreciation Rights (SARs) was not taxable as a perquisite under Section 17(2)(iii) or as a benefit under Section 28(iv) of the Income Tax Act. The Court held that the tax laws must be strictly interpreted, and without a clear legislative mandate, benefits cannot be taxed retrospectively. It was emphasized that the amendment introduced by the Finance Act, 1999, was not clarificatory and could not be applied retrospectively, further supporting the non-taxability of the amount received by the Respondent. Case-Laws Income Tax Tue, 24 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359363