Supreme Court · 2008 INSC 6 · Decided 4 January 2008
Commissioner of Income Tax, Bangalore v. Infosys Technologies LTD.
- Court
- Supreme Court of India
- Citation
- 2008 INSC 6 · [2008] 1 S.C.R. 136
- Case number
- CIVIL APPEAL No. 3725/2007
- Decided
- 4 January 2008
- Bench
- S.H. KAPADIA, B. SUDERSHAN REDDY (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 17(2), 17, 17(2)(iii)
Headnote
136 A COMMISSIONER OF INCOME TAX, BANGALORE ~- j II. INFOSYS TECHNOLOGIES LTD. (C.A. No. 3725 of 2007) 8 JANUARY 4, 2008 (S.H. KAPADIA AND B. SUDERSHAN REDDY, JJ.) Income Tax Act, 1961; S. 17(2)(iii a) as inserted .by amendment; Ss.20 & 192: c Perquisite value - Employees Stock Option Scheme difference between market value of share and price paid by D the employees - Held: Not liable - Income earned from shares allotted under the Scheme not taxable in terms of extant provisions under the Act - Since shares allotted not transferable for five years, they have no realizable value - -l~
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