https://www.taxtmi.com/caselaws?id=457410 ESOP-related expenditure was treated as an allowable business deduction under Section 37(1) where the cost was incurred to secure and retain employee services for earning profits, rather than as capital outlay. The reasoning followed consistent High Court authority accepted as correctly stating the law, and the deduction was not denied merely because the expense was described as notional. The Revenue's challenge therefore failed and the disallowance was not sustained. en-us Wed, 07 Feb 2024 00:00:00 +0530 Wed, 18 Sep 2024 20:28:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457410 ESOP-related expenditure was treated as an allowable business deduction under Section 37(1) where the cost was incurred to secure and retain employee services for earning profits, rather than as capital outlay. The reasoning followed consistent High Court authority accepted as correctly stating the law, and the deduction was not denied merely because the expense was described as notional. The Revenue's challenge therefore failed and the disallowance was not sustained. Case-Laws Income Tax Wed, 07 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457410