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TMI Blog2019 (5) TMI 751X X X X Extracts X X X X X X X X Extracts X X X X ..... amanian) The revenue has come up with the above appeal under Section 260A of the Income Tax Act, 1961 raising the following substantial questions of law: "1. In the facts and circumstances of the case, when the Assessing Officer by considering the fact that the assessee being an employee in M/s. Parke-Davis in which M/s.WLC has substantial holding, has offered employees stock option plan and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the department. 3. The respondent, an individual, was an employee of a company by name M/s. Parke-Davis. He claimed deduction under Section 54 EA of the Income Tax Act, 1961 in respect of the sale of shares, which were, allegedly, converted into Employees Stock Option Plan and paid long term capital gains at 10%. 4. The assessing officer held that the gains on the sale of shares constitut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... factual finding. 7. In any case, the Mumbai Bench of the tribunal has answered this question against another employee of the very same company. This is why the tribunal followed the said decision in the order impugned in this appeal. Therefore, the first substantial question of law does not arise for consideration. 8. The second question of law should fail as a consequence of the factual find ..... X X X X Extracts X X X X X X X X Extracts X X X X
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