Shares issued to employees of subsidiary and perquisite tax

A subsidiary company employee is indirectly an employee of the holding company. Holding company has every right to change the composition of Board of Directors of the Subsidiary company. So shares issued by the holding company is a tax perquisite for the employee of the subsidiary company. 

Hi,

Are there any caselaws or any precedence available for such a kind of treatment

and if tds is to be deducted - in which company

Regards