9911796707
TMI Blog2012 (12) TMI 668X X X X Extracts X X X X X X X X Extracts X X X X ..... of this Court directing the refund of the amounts paid by the assessees, as tax, with the interest payable thereon, as per the provisions of the Income Tax Act, 1961. Set aside the impugned order of the first respondent, dated 19.1.2007. Consequently, the second and the third respondents are directed to refund the tax amount to the petitioner, within a period of eight weeks from the date of re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stated that the employer had deducted tax at source, from the salary of the petitioner and it had been remitted to the department, as per the relevant provisions of the Income Tax Act, 1961. Thereafter, based on the demand raised by the Assistant Commissioner of Income Tax, TDS, Bangalore, on 7.10.1999, for the failure to deduct tax at source, in respect of perquisite value of stock options allot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been passed by the appellate Tribunal, on 28.6.2002, holding that allotting of shares to employees did not amount to a perquisite and therefore, there was no liability under the Act to deduct tax at source. The said order had been challenged by the department, before the Karnataka High Court, and thereafter, before the Apex Court. However, the order of the Income Tax Appellate Tribunal, Bangalore ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the amounts paid by the assessees, as tax, with the interest payable thereon, as per the provisions of the Income Tax Act, 1961. It had also been pointed out that the order passed by the Division Bench of this Court, dated 23.12.2011, had become final and it had been given effect to, by the respondent Department. 6. The learned counsel appearing on behalf of the respondents had not refuted the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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