Compensation paid to ESOP holders qualifies as perquisite hence taxable as salary income: Madras HC

Nishithkumar Mukeshkumar Mehta Vs DCIT (Madras High Court) Madras High Court held that compensation paid to ESOP holders qualifies as perquisite and hence taxable under the head ‘salary’. The same cannot be treated as capital receipt. Facts- The petitioner is an employee of Flipkart Internet Private Limited (FIPL), which is a company incorporated in India and a wholly owned subsidiary of Flipkart Marketplace Private Limited (FMPL). FMPL is a company incorporated under the laws of Singapore and is a wholly owned subsidiary of Flipkart Private Limited Singapore (FPS). On 21.04.2023, FPS anno...