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2011 (3) TMI 611 - AT - Income TaxPerquisite value of ESOP - lock-in-period - Section 17(2)(iiia) - whether an order of AO in pursuance of and direction of High Court in remand matter is appealable - Held that:- In view of decision in the matter of Caltex Oil Refining (India) Ltd. (1992 -TMI - 20955 - BOMBAY High Court), an order giving effect to the directions of the appellate authorities is an appealable order and in such appeal the levy of interest can be challenged. - in view of the earlier decision (2008 -TMI - 65483 - ITAT DELHI-G) since the assessee exercised option in respect of allotment of shares, though without payment of requisite sum but which was accepted by the employer waiving the amount payable for allotment of shares, the perquisite arose in terms of s. 17(2)(iiia) - Entire transaction is taxable as against 2/3 exemption claimed by the assessee. Interest u/s 234B where employer failed to deduct TDS - Held that:- interest u/s 234B was not chargeable on assessee in these facts and circumstances and the same should be deleted. Tax was paid during the previous year - income made taxable during the next year - department propose to deny the credit of tax paid in the earlier year on the same income - Held that:- it is unjust for the revenue to deny the credit of the taxes paid qua the very same transactions albeit under a bona fide belief in different year.
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