https://www.taxtmi.com/caselaws?id=37082 Allotment of promoters' shares to a person who was a director was treated as a taxable benefit or perquisite within section 2(6C)(iii), because the provision is inclusive and the capacity in which the benefit was arranged was immaterial once the recipient held directorship at the time of receipt. The Court also accepted that the department could raise the section 2(6C)(iii) point in reference, in view of binding precedent. On the tax head issue, the amount was held assessable under "Other sources" after salary treatment was rejected. The reference was answered against the assessee. en-us Fri, 21 Jul 1978 00:00:00 +0530 Fri, 26 Mar 2010 12:34:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37082 Allotment of promoters' shares to a person who was a director was treated as a taxable benefit or perquisite within section 2(6C)(iii), because the provision is inclusive and the capacity in which the benefit was arranged was immaterial once the recipient held directorship at the time of receipt. The Court also accepted that the department could raise the section 2(6C)(iii) point in reference, in view of binding precedent. On the tax head issue, the amount was held assessable under "Other sources" after salary treatment was rejected. The reference was answered against the assessee. Case-Laws Income Tax Fri, 21 Jul 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37082