Supreme Court · 2018 INSC 406 · Decided 24 April 2018
ADDL. Commissioner of Income Tax v. Bharat V. Patel
- Court
- Supreme Court of India
- Citation
- 2018 INSC 406 · [2018] 7 S.C.R. 1067
- Case number
- CIVIL APPEAL No. 4380/2018
- Decided
- 24 April 2018
- Bench
- R.K. AGRAWAL, ABHAY MANOHAR SAPRE (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 17(2), 28(iv)
Headnote
Income Tax Act, 1961 - s.17(2) - 'Perquisite' - Amendment thereto, if retrospective - Respondent, Chairman and MD of Procter and Gamble (P&G), India (subsidiary of (P&G) USA) was issued Stock Appreciation Rights (SARs) by (P&G) USA and received an taxability of the amount so received by the Respondent on redemption of SARs - Held: "Perquisite" is usually a non-cash benefit given by an employer to an employee in addition to entitled salary or remuneration - In order to bring the perquisite transferred by the
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