https://www.taxtmi.com/caselaws?id=276576 The court dismissed the Revenue's appeal regarding the claimed expenditure under section 37 for the assessment year 2007-08, upholding the Income-tax Appellate Tribunal's decision in favor of the assessee. The court found no substantial question of law in the issues raised, affirming the Tribunal's approach and previous court rulings. Additionally, the court held that the discount on shares under the Employees Stock Option Plan (ESOP) is an allowable deduction under section 37(1) and clarified the timing and amount of deduction for such discounts. en-us Mon, 27 Feb 2017 00:00:00 +0530 Wed, 14 Nov 2018 07:11:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276576 The court dismissed the Revenue's appeal regarding the claimed expenditure under section 37 for the assessment year 2007-08, upholding the Income-tax Appellate Tribunal's decision in favor of the assessee. The court found no substantial question of law in the issues raised, affirming the Tribunal's approach and previous court rulings. Additionally, the court held that the discount on shares under the Employees Stock Option Plan (ESOP) is an allowable deduction under section 37(1) and clarified the timing and amount of deduction for such discounts. Case-Laws Income Tax Mon, 27 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276576