Back
A.D.JAIN, J.SUDHAKAR REDDY
Assistant Commissioner of Income-tax – Appellant
Versus
Ambrish Kumar Jhamb – Respondent
J. Sudhakar Reddy, Accountant Member - This is an appeal filed by the Revenue directed against the order of CIT(A)-XXX, New Delhi, dt. 30th June, 2011 pertaining to asst. yr. 2006-07 on the following grounds :
"On the facts and circumstances of the case and in law, the learned CIT(A) has erred in holding that the case of the assessee falls under Expln. 1 to cl. (d) or cl. (e) of section 2(42A) of the IT Act, 1961 as against the AO holding that the gain from sale of ESOP was chargeable as short-term capital gain ignoring the fact that as per ruling in the case of Girdhar Kirshna M. v. Asstt. CIT
2. The facts of the case are as brought out in the AO's order as follows :
"In this case, assessee was given ESOP by Gillette Co. In his submissions and ESOP plan it has been observed that these ESOPs are cashless. Assessee has to pay nothing on exercise of ESOP. The assessee has been granted ESOP in earlier years without any cost. On the date of exercise the amount under ESOP to the assessee was deducted from the sale proceeds and the d
The main legal point established in the judgment is the binding effect of the settlement between the parties, the waiver of the right to seek re-employment by the workmen, and the entitlement of the ....
A lockout is justified if it is declared in response to an illegal strike or a strike that is in breach of a settlement or award.
The combination of eyewitness testimonies, recovery of the weapon used, and forensic examination results can establish guilt in criminal cases, even based on circumstantial evidence.
The conviction of an accused person under Section 27(3) of the Arms Act is not permissible in law if the accused is also charged with committing murder under Section 302 of the Indian Penal Code.
The court can enhance compensation based on the deceased's income and family dependency, and adjust the multiplier used by the Tribunal if found unjustified.
A valid signature must be in the candidate's own handwriting, as emphasized by the General Clauses Act and relevant case law.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
