9911796707
TMI Blog2012 (8) TMI 544X X X X Extracts X X X X X X X X Extracts X X X X ..... dated September 20, 2010, C. No. 3(58) condonation of delay/CIT-V/10-11, dated August 3, 2010, C. No. 2063 (39)/ 2002-03/CIT-V, dated July 15, 2009, C. No. 2063 (41) condonation of delay/ CIT-V/10-11, dated August 10, 2010, and corrigendum C. No. 2063(41) condo- nation of delay/CIT-V/10-11, dated August 25, 2010, and C. No. 7031(183)/ CIT VII/2000-01, dated January 19, 2007, respectively, and quash the same as illegal, arbitrary and without authority of law and further direct the second respondent to refund the tax amount of Rs. 12,73,416, Rs. 6,81,264, Rs. 1,83,933 and Rs. 8,49,811, respectively, along with admissible interest in respect of W. P. Nos.16375 of 2010 and 217, 279 and 347 of 2011 and direct the second respondent to issue inter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dent filed an appeal before the Income-tax Appellate Tribunal and the Tribunal held "allotting of shares to employees did not amount to a perquisite, a liability under the Act to deduct tax at source". The appeals filed by the Department before the High Court, Bangalore, and the hon'ble Supreme Court were decided against the Department. (iii) The respondent-employee filed two petitions on February 11, 2003, for refunding the TDS amount along with interest along with a request to condone the delay in filing the returns before the Commissioner of Income-tax V, Chennai, who sent a report on September 29, 2009, to the first respondent by citing the Board's instructions dated December 22, 2006, and requested the first respondent to decid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Heard the learned counsel appearing for both sides and perused the materials available on record. 5. Learned counsel for the appellants in the writ appeals has contended that the Department had raised a demand under section 201 and for interest under section 201(1A) of the Income-tax Act against the employer for the failure to deduct tax at source in respect of perquisite value of stock option adopted by the employees covered under the Employees Stock Option Scheme (ESO Scheme) and against such demand the employer had not preferred any appeal and, in such circumstances, the learned single judge ought not to have directed the Revenue to refund the amount to the employee, against whom admittedly there was no demand, with interest. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s to whether the order of the Karnataka High Court has been reversed by the Division Bench or the hon'ble Supreme Court and, moreover, he is not in a position to place his hands on any other decision to take a contra view. Moreover, the contention of the learned standing counsel that the Chief Commissioner has no power to condone the delay and the assessees should have approached the Board cannot be sustained in view of the decision of the hon'ble Supreme Court in the earlier round of litigation. 8. In such view of the matter, we do not see any reason to interfere with the order of the learned single judge and accordingly the order dated March 22, 2010, April 7, 2010, and March 12, 2010, passed by the learned single judge of this cou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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