Addition of value of shares granted under Employees Stock Purchase Scheme as perquisite not sustained

Ravi Kumar Sinha Vs CIT (Delhi High Court)

Delhi High Court held that addition of value of shares granted under the Employees Stock Purchase Scheme as perquisite in terms of section 17(2)(iiia) of the Income Tax Act unsustainable in law.

Facts- Present petition has been filed majorly on two questions of law i.e. whether on the facts and circumstances of the case the Tribunal erred in law in confirming addition of Rs.86,28,750/ – as perquisite value of shares granted under Employees Stock Purchase Scheme (ESPS) and whether value of stock purchase option

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