https://www.taxtmi.com/caselaws?id=456039 ITAT Mumbai allowed the assessee's rectification application regarding ESOP expense disallowance. The Tribunal had initially restored the matter to AO despite the issue being already decided by Bangalore ITAT Special Bench in Biocon Ltd case. The Special Bench had held that second type of discount arising from difference between fair market value at vesting and exercise dates is allowable as deduction under taxation principles. Karnataka HC upheld this decision. ITAT Mumbai found mistakes apparent from record in the original order and allowed the miscellaneous application. en-us Fri, 25 Aug 2023 00:00:00 +0530 Sun, 23 Jun 2024 21:58:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456039 ITAT Mumbai allowed the assessee's rectification application regarding ESOP expense disallowance. The Tribunal had initially restored the matter to AO despite the issue being already decided by Bangalore ITAT Special Bench in Biocon Ltd case. The Special Bench had held that second type of discount arising from difference between fair market value at vesting and exercise dates is allowable as deduction under taxation principles. Karnataka HC upheld this decision. ITAT Mumbai found mistakes apparent from record in the original order and allowed the miscellaneous application. Case-Laws Income Tax Fri, 25 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456039