Perquisite

Court :
HC

Brief :
Held by the Hon`ble Court that, the shares were allotted to the trust and trust made the grant to the employee subject to some condition. The stock option did not amount to perquisite and not covered under "salary".

Citation :
C.I.T. and others Vs. Infosys Technologies Ltd.

Perquisite C.I.T. and others Vs. Infosys Technologies Ltd. 12/15/2006 [2007] 293 ITR 146 (kar) Case Fact: Whether, granting stock option to employee by trust which is created by assessee to promote the welfare of employee is a perquisite? Decision: Held by the Hon`ble Court that, the shares were allotted to the trust and trust made the grant to the employee subject to some condition. The stock option did not amount to perquisite and not covered under "salary".

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Judgement posted by

CA.Saibaburao Nanduri

Chartered Accountant

I am a commerce graduarte of Andhra University. Studied at HINDU COLLEGE, Guntur. Became FCA and started Practice under the name and style of M/s SAIBABU RAO CO I became Chairman of CA Institute, Guntur Branch, during the year 2008-09 My post qualifications are: Information Systems Audit DISA (ICAI) ... Read more

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