Supreme Court of India
Addl. Commissioner of Income Tax v. Bharat V. Patel
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1 Supreme Court bench has cited this judgment.
From the headnote
Income Tax Act, 1961 – s.17(2) – ‘Perquisite’ – Amendment thereto, if retrospective – Respondent, Chairman and MD of Procter and Gamble (P& ), India (subsidiary of (P& ) USA) was issued Stock Appreciation Rights (SARs) by (P& ) USA and received an amount of Rs.6,80,40,724/- on its redemption – Issue as to the taxability of the amount so received by the Respondent on redemption of SARs – Held: “Perquisite” is usually a non-cash benefit given by an employer to an employee in addition to entitled salary or remuneration – In order to bring the perquisite transferred by the employer to the…
Where later benches applied it
- 2024 All India Bank Officers’ Confederation v. The Regional Manager, Central Bank of India and Others
Of those, 1 followed
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