TaxTMI 
TaxTMI 
2021 (4) TMI 104
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.... This appeal is filed by the assessee against order dated 18/04/2017 passed by CIT(A)-4 New Delhi for assessment year 2013-14. 2. The grounds of appeal are as under : - "1. NON GRANT OF ADDITIONAL CLAIM FOR DEDUCTION OF ESOP EXPENSES AMOUNTING TO Rs. 55.09.865: 1.1. On the facts and circumstances of the case and in law, the learned Commissioner of Income Tax (Appeals) - 4 [hereinafter referre....
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.... the ITAT and not with the CIT(A). In doing so the learned CIT(A) did not give an opportunity to the appellant. 1.5. The appellant company therefore prays Your Honour to direct the learned DCIT to allow ESOP expenditure amounting to Rs. 55,09,865. 3. The assessee is a wholly own subsidiary of Hollister US. Hollister India is set up to act as a manufacturer engaged in manufacturing of medical c....
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..... The Ld. AR submitted that the additional claim for deduction of ESOP related expenses amounting to Rs. 55,09,865/- should have not been rejected thereby relying by the decision of the Hon'ble Supreme Court in case of Goetz India Ltd. Vs. CIT 284 ITR 323. The CIT(A) should have allowed the additional claim as per the principal laid down by the Hon'ble Supreme Court in case of NTPC Ltd. 22....
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....by various decisions of the Hon'ble Supreme Court in following cases:- (a) Kedarnath Jute Mill Company Ltd. 82 ITR 363. (b) (b) Sutlej Cotton Mills Ltd. 166 ITR 1 (c) United Commercial Bank 240 ITR 355 (d) Taparia Tools Ltd. 372 ITR 605 These expenses were incurred in the course of business of assessee and were let out as well as expanded wholly and exclusively for the business purpos....