https://www.taxtmi.com/caselaws?id=400195 The High Court ruled in favor of the appellant regarding the taxation of gains from cashless exercise of stock options. The court held that the appellant's gains should be treated as long-term capital gains, rejecting the Assessing Officer's classification of part as income from salary and part as short-term capital gains. It was determined that the appellant was not an employee of the US company granting the stock options, establishing the income from stock options as a capital asset due to the absence of an employer-employee relationship. The court emphasized the principle of consistency in taxation and allowed the appeal, quashing the Income Tax Appellate Tribunal's order. en-us Fri, 23 Oct 2020 00:00:00 +0530 Thu, 24 Dec 2020 17:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400195 The High Court ruled in favor of the appellant regarding the taxation of gains from cashless exercise of stock options. The court held that the appellant's gains should be treated as long-term capital gains, rejecting the Assessing Officer's classification of part as income from salary and part as short-term capital gains. It was determined that the appellant was not an employee of the US company granting the stock options, establishing the income from stock options as a capital asset due to the absence of an employer-employee relationship. The court emphasized the principle of consistency in taxation and allowed the appeal, quashing the Income Tax Appellate Tribunal's order. Case-Laws Income Tax Fri, 23 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400195