https://www.taxtmi.com/caselaws?id=771693 HC dismissed the challenge: where the assessee's AY 2008-09 return was scrutinized and the AO accepted a Rs.10 per share cost and taxed resultant long-term capital gains, Revenue could not in later proceedings recharacterize cost on the basis of intrinsic value (Rs.550) and treat the difference as perquisite under s.2(24)(iv). ITAT's view that s.2(24)(iv) was inapplicable was upheld and no substantial question of law arose for the HC to entertain. en-us Tue, 20 May 2025 00:00:00 +0530 Mon, 01 Sep 2025 11:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771693 HC dismissed the challenge: where the assessee's AY 2008-09 return was scrutinized and the AO accepted a Rs.10 per share cost and taxed resultant long-term capital gains, Revenue could not in later proceedings recharacterize cost on the basis of intrinsic value (Rs.550) and treat the difference as perquisite under s.2(24)(iv). ITAT's view that s.2(24)(iv) was inapplicable was upheld and no substantial question of law arose for the HC to entertain. Case-Laws Income Tax Tue, 20 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771693