Case Law Details
Case Name : Dr. Muthian Sivathanu, Vs ACIT (ITAT Chennai)
Related Assessment Year : 2011-12
Courts :
All ITAT ITAT Chennai
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Dr. Muthian Sivathanu, Vs ACIT (ITAT Chennai)
Conclusion: Gains arising from sale of the shares allotted in the ESOP (Employees Stock Option Plan) scheme when the assessee was non-resident, not to be assessed as perquisites instead of assessed as capital gain as the stock viz., the asset was already vested on the assessee during the relevant assessment year.
Held: In the present case, AO treated the sale proceeds of the shares allotted in ESOP (Employees Stock Option Plan) scheme during the earlier assessment years when the assessee was non-resident, as perquisites, for the relevant assessme...
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TO ADD:
ADMN; It is a matter of PERSONAL regret/ painful remorse, that this ORDER bristling / brimming with apparent host of controversies, though published in 2019, – over two years ago – as displayed there have been 2,091 Views but 0 comment- do not seem to speak well of the quality of earnestness or want of it, in not evoking any reaction whatsoever , from any of the concerned quarters , including enlightened members of the CA Fraternity at large, in field practice, supposed to be of useful assistance/ proper guidance to the clientele !?- Any THOUGHTS ?!?
courtesy
OFF hand:
Date of Judgement/Order: 24/10/2018
Related Assessment Year: 2011-12
A simple common sense doubt: What happened since the matter of dispute was remanded to AO (in Oct 2018); that is two and a half year ago ? It is difficult to believe that the AO is still sitting over the matter – Agree!
Any helpful INFO., from anyone – particularly, the Revenue / the CBDT – or ITAT, which in its ‘wisdom’, thought it necessary or inevitable to pass the Buck back to the lowly AO ; despite the obvious / glaring infirmities impacting the individual taxpayer’s lawful rights and interests from more than one angle , on one hand, and those of the similarly placed other tax payers on the other ?!?
Is this not a matter of COMMON concern ; requiring to be bothered impersonally about, by every right thinking person – albeit in a minority- and suggest ways and means for a way out/ march forward, after a course correction and change of action, in the right or better direction, as warranted ???
OVER to ……
TAIL Note: For personal related viewpoints shared, in the altruistic expectation of being of assistance, look through the several comments posted on this and other websites ?!?@?!