https://www.taxtmi.com/caselaws?id=417926 The Tribunal allowed the deduction of Equity Stock Options (ESOP) expenditure under section 37(1) of the Income Tax Act, rejecting the disallowance by the Assessing Officer and Dispute Resolution Panel. The Tribunal remanded the quantification of deduction under section 10A back to the AO for verification, directed the allowance of Long Term Capital Loss, instructed the AO to dispose of the rectification application, and ordered the correct computation of interest under sections 234B, 234C, and 234D. Additionally, the Tribunal admitted an additional ground of appeal regarding deduction for Education Cess and Higher and Secondary Education Cess and directed a transfer pricing adjustment by excluding a comparable company. en-us Mon, 31 Jan 2022 00:00:00 +0530 Thu, 03 Feb 2022 19:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417926 The Tribunal allowed the deduction of Equity Stock Options (ESOP) expenditure under section 37(1) of the Income Tax Act, rejecting the disallowance by the Assessing Officer and Dispute Resolution Panel. The Tribunal remanded the quantification of deduction under section 10A back to the AO for verification, directed the allowance of Long Term Capital Loss, instructed the AO to dispose of the rectification application, and ordered the correct computation of interest under sections 234B, 234C, and 234D. Additionally, the Tribunal admitted an additional ground of appeal regarding deduction for Education Cess and Higher and Secondary Education Cess and directed a transfer pricing adjustment by excluding a comparable company. Case-Laws Income Tax Mon, 31 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417926