https://www.taxtmi.com/caselaws?id=764581 ITAT Delhi allowed the assessee's claim for ESOP expenditure deduction, directing the AO to permit the claim. The tribunal found that the AO had rejected the claim without considering binding precedents from Karnataka HC and ITAT Special Bench Bangalore, which had allowed similar ESOP deductions. The tribunal criticized the AO for violating principles of judicial discipline by ignoring higher court decisions and applying "lower wisdom" instead of following established precedents. Following the Karnataka HC decision in Biocon Ltd., the tribunal ordered the AO to allow the assessee's ESOP claim. en-us Fri, 10 Jan 2025 00:00:00 +0530 Mon, 13 Jan 2025 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764581 ITAT Delhi allowed the assessee's claim for ESOP expenditure deduction, directing the AO to permit the claim. The tribunal found that the AO had rejected the claim without considering binding precedents from Karnataka HC and ITAT Special Bench Bangalore, which had allowed similar ESOP deductions. The tribunal criticized the AO for violating principles of judicial discipline by ignoring higher court decisions and applying "lower wisdom" instead of following established precedents. Following the Karnataka HC decision in Biocon Ltd., the tribunal ordered the AO to allow the assessee's ESOP claim. Case-Laws Income Tax Fri, 10 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764581