2008 (10) TMI 702

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....Heard the learned Counsel for the Appellant. None appears for the Respondent though served. The aforesaid Appeal is admitted on the following substantial questions of law:- (i) Whether on the facts and in the circumstances of the case and in law the Tribunal flawed in approving the reassessment notice dated 02.05.2002 issued under Section 148 read with Section 147 of the Act? (ii....

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....lding that there exist an employer and employee relationship between PUSA and the Appellant and therefore, the benefit accruing from the stock options is assessable as perquisites defined under Section 17(2) (iii) of the Act? (v) Whether on the facts and in the circumstances of the case and in law, the Tribunal misdirected itself in holding that decision of the Apex Court in CIT v. INFOSY....