Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
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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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