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2014 (7) TMI 1175 - HC - Income TaxTaxability of employee stock option - Held that:- The salary paid to the respondent-assessee of ₹ 1,51,07,902/- was duly disclosed by the assessee in the return of income filed for the Assessment Year 2007-08 and tax of ₹ 50,29,219/- was deducted at source. Aforesaid salary including ₹ 8,66,634/-, which was computed as gain on account of difference in market price of the shares in USA allotted to the assessee under the stock option. The actual difference between the market price and the shares allotted upon conversion in Indian rupees was ₹ 32,09,756/-. The assessee had taken to proportionate amount and declared ₹ 8,66,634/- as taxable in India, keeping in view the period/time when he was employed in India with reference to the dates 9th January, 2004 to 1st February, 2007. Thus, proportionately on the basis of the period spent in India, the employee stock option was brought to tax and taxed in India. The assessees in question, as noticed above, was an employee of a company registered and listed in USA. The option which was given to the assessee was pursuant to the respondent-assessee working in the said company way back in January, 2004. At that time he was working in USA. The decision of the tribunal is just and fair and does not require interference7,
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