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2009 (8) TMI 531 - HC - Income TaxRefund- The assessee were granted certain number of stock at Re.1 per stock, subject to certain conditions under the Employees Stock Option Scheme. The value of shares was not disclosed as taxable income in the original return of income filed by them. The Deputy Commissioner held that the shares are perquisites and tax had to be deducted at source, which was upheld by the Commissioner (Appeals). The Tribunal set aside the order. The Assistant Commissioner folloing the order of Tribunal, direct the assessee to claim credit for the TDS as not entitled to refund. Assessee file appeal for refund and condone the delay. Chief Commissioner condone the delay but declined admissible interest. Held that- the first and second revised returns along with the application to condone the delay in filing the same, were rendered infructuous, by the law declared by the Supreme Court confirming the judgment of High Court and the Appellate Tribunal. The order of Chief Commissioner is illegal and without jurisdiction and as a consequence the order of Assistant Commissioner, giving effect to the orders of the Chief Commissioner were unsustainable, thus liable to be quashed.
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