28 Apr 2006
THE COMMISSIONER OF INLAND REVENUE v. SAWHNEY, SUBHASH CHANDER
- Citation
- THE COMMISSIONER OF INLAND REVENUE v. SAWHNEY, SUBHASH CHANDER
- Court
- Court of First Instance
- Case number
- HCIA1/2006
Section 11C must be construed purposively and not as creating an unintended exemption; gains realised on exercise of share options granted during employment are assessable to salaries tax under sections 8(1), 9(1)(d) and 9(4) even if exercised after cessation of employment, therefore the Board erred and the Commissioner's appeal is allowed.