This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
No penalty on taxation of ESOP when only CBDT Circular was there on its taxation
Case Law Details
- Case Name
- ACIT Vs Vijay Kumar Jindal (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2000- 01
- Courts
- ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
No penalty can be levied under s 271(1)(c) when there was only the CBDT Circular on the taxation of ESOP shares and where the assessee offered certain income in a particular year and paid taxes bona fidely and the AO taxed the same in another year.
ACIT Vs Vijay Kumar Jindal (ITAT Delhi)- There was no law on taxation of Esop shares for A.Y. 1999-2000. Only CBDT Circular no. 710 was there clause (iv) of the same provided that where shares have been offered only to the employees, the value of perquisite will be the difference between the market price of the shares on the date of acceptance of t...
