https://www.taxtmi.com/caselaws?id=757235 Delhi HC ruled in favor of assessee regarding taxation of shares under Employee Stock Purchase Scheme. Court held that shares subject to lock-in restrictions preventing market trading should be valued at face value (INR 15) rather than Fair Market Value for tax purposes. The valuation report used by employer for withholding tax obligations could not determine FMV for restricted shares. Court concluded that face value alone is conclusive for taxation when shares cannot be sold in open market due to complete embargo on sale. en-us Wed, 14 Aug 2024 00:00:00 +0530 Tue, 10 Jun 2025 14:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757235 Delhi HC ruled in favor of assessee regarding taxation of shares under Employee Stock Purchase Scheme. Court held that shares subject to lock-in restrictions preventing market trading should be valued at face value (INR 15) rather than Fair Market Value for tax purposes. The valuation report used by employer for withholding tax obligations could not determine FMV for restricted shares. Court concluded that face value alone is conclusive for taxation when shares cannot be sold in open market due to complete embargo on sale. Case-Laws Income Tax Wed, 14 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757235