https://www.taxtmi.com/caselaws?id=370769 The Tribunal ruled in favor of the assessee, determining that the income from the sale of shares allotted under the Employee Stock Option Plan (ESOP) should be classified as capital gains rather than perquisites. The Tribunal found that the stock options were exercised when the assessee was a non-resident in earlier assessment years, and the gain from the sale of shares should be treated as capital gain based on the provisions of the Income Tax Act. Additionally, discrepancies in the taxable amount were identified, leading the Tribunal to remit the matter back to the Assessing Officer for further verification and compliance with the law. en-us Wed, 24 Oct 2018 00:00:00 +0530 Fri, 23 Nov 2018 09:37:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370769 The Tribunal ruled in favor of the assessee, determining that the income from the sale of shares allotted under the Employee Stock Option Plan (ESOP) should be classified as capital gains rather than perquisites. The Tribunal found that the stock options were exercised when the assessee was a non-resident in earlier assessment years, and the gain from the sale of shares should be treated as capital gain based on the provisions of the Income Tax Act. Additionally, discrepancies in the taxable amount were identified, leading the Tribunal to remit the matter back to the Assessing Officer for further verification and compliance with the law. Case-Laws Income Tax Wed, 24 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370769