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Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
In a case before ITAT Delhi, the issue was whether expenses incurred on Employee Stock Option (ESOP) scheme are allowable u/s 37(1). The AO disallowed the expenses, deeming them as notional and contingent. However, the CIT(A) allowed the expenditure. The assessee, a private limited company in real estate consultancy, argued that ESOP expenses were actually incurred. Citing precedents like M/S. BIOCON LTD. and LEMON TREE HOTELS LTD., the Tribunal upheld the CIT(A)'s decision, stating that ESOP expenses are allowable. The Revenue's appeal was dismissed.
In a case before ITAT Delhi, the issue was whether expenses incurred on Employee Stock Option (ESOP) scheme are allowable u/s 37(1). The AO disallowed the expenses, deeming them as notional and contingent. However, the CIT(A) allowed the expenditure. The assessee, a private limited company in real estate consultancy, argued that ESOP expenses were actually incurred. Citing precedents like M/S. BIOCON LTD. and LEMON TREE HOTELS LTD., the Tribunal upheld the CIT(A)'s decision, stating that ESOP expenses are allowable. The Revenue's appeal was dismissed.
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