https://www.taxtmi.com/caselaws?id=799322 Employee Stock Option Scheme expenditure may be debited to the profit and loss account as allowable revenue expenditure. For Financial Year 2017-18, a share valuation report issued by a Chartered Accountant cannot be rejected under a later requirement for Merchant Banker certification, because that requirement applied only from the subsequent financial year. Consequently, an addition under Section 56(2)(viib) based solely on the absence of Merchant Banker certification is unsustainable for the relevant year. en-us Thu, 17 Sep 2026 00:00:00 +0530 Sat, 19 Sep 2026 08:20:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799322 Employee Stock Option Scheme expenditure may be debited to the profit and loss account as allowable revenue expenditure. For Financial Year 2017-18, a share valuation report issued by a Chartered Accountant cannot be rejected under a later requirement for Merchant Banker certification, because that requirement applied only from the subsequent financial year. Consequently, an addition under Section 56(2)(viib) based solely on the absence of Merchant Banker certification is unsustainable for the relevant year. Case-Laws Income Tax Thu, 17 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799322