https://www.taxtmi.com/caselaws?id=370304 The High Court upheld the decision of the ITAT regarding the penalty imposed on ESOP expenses claimed by the assessee under Section 37 of the Income Tax Act for the assessment year 2007-08. The court found that the penalty was not justified based on previous judgments and consistent rulings supporting ESOP claims under Section 37. The appeal by the Revenue to set aside the ITAT order was rejected, affirming the decision in favor of the assessee. en-us Fri, 14 Sep 2018 00:00:00 +0530 Wed, 14 Nov 2018 08:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370304 The High Court upheld the decision of the ITAT regarding the penalty imposed on ESOP expenses claimed by the assessee under Section 37 of the Income Tax Act for the assessment year 2007-08. The court found that the penalty was not justified based on previous judgments and consistent rulings supporting ESOP claims under Section 37. The appeal by the Revenue to set aside the ITAT order was rejected, affirming the decision in favor of the assessee. Case-Laws Income Tax Fri, 14 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370304