(nE)  any amount (including any taxable benefit determined under the provisions of the Seventh Schedule, but excluding any gain or loss as a result of any transaction in respect of which section 8C applies or the cancellation of any such transaction) received by or accrued to an employee, as so defined, under a share incentive scheme operated for the benefit of employees of the taxpayer’s employer, as so defined, which was derived –

(i)      upon the cancellation of a transaction under which the taxpayer purchased shares under that scheme; or

(ii)     upon the repurchase from the taxpayer, at a price not exceeding the selling price to him or her, of shares purchased by him or her under that scheme,

if in consequence of such cancellation or repurchase the taxpayer has not received or become entitled to receive any compensation or consideration other than the repayment of any portion of the purchase price actually paid by him;