https://www.taxtmi.com/caselaws?id=293495 The Tribunal upheld the CIT(A)'s decision, ruling that the addition made by the AO was not sustainable on factual or legal grounds. The Revenue's appeal was dismissed, and the assessee's Cross Objection was deemed infructuous. The Tribunal found that the income from sweat equity shares was hypothetical and not taxable as perquisites due to the lack of real benefit to the assessee. Additionally, the composite order disposing of objections along with the assessment was deemed legally unsustainable. en-us Tue, 19 Mar 2019 00:00:00 +0530 Fri, 12 Feb 2021 23:12:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293495 The Tribunal upheld the CIT(A)'s decision, ruling that the addition made by the AO was not sustainable on factual or legal grounds. The Revenue's appeal was dismissed, and the assessee's Cross Objection was deemed infructuous. The Tribunal found that the income from sweat equity shares was hypothetical and not taxable as perquisites due to the lack of real benefit to the assessee. Additionally, the composite order disposing of objections along with the assessment was deemed legally unsustainable. Case-Laws Income Tax Tue, 19 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293495