Tribunal held that the allotment of shares to employees under the employee stock ownership plan could not be treated as perquisite as there was no benefit and the value of the benefit, if any, was unascertainable at the time when the options were exercised. Applied. CIT v. Infosys Technologies Ltd. (2008) 297 ITR 167 (SC). (AY. 2012-13, 2013-14)
NXP India Pvt. Ltd. v. Dy.CIT (2020) 82 ITR 467 (Bang.)(Trib.)
S. 192 : Deduction at source-Salary-Employee stock ownership plan-Stock option not perquisite-Not taxable-No liability upon assessee to deduct tax at source. [S. 17]