TaxTMI 
TaxTMI 
2021 (8) TMI 772
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....count of disallowance of ESOP expenses. since the receipt of share of share premium is not taxable, any short receipt of such premium on Issuing options to employees will only be notional loss and not the actual loss for which any liability is incurred. 4. On the facts and under the circumstances of the case, Ld. CIT(A) has erred in law and facts in deleting the addition of Rs. 1,18,59,997/- on account of disallowance of ESOP expenses, in view of SEBI guidelines 1999. 5. The appellant craves to be allowed to add and later any fresh ground(s) of appeal and/or delete or amend any of the ground(s) of appeal." 2. Facts giving rise to the present appeal are that the assessee company filed its return of income through electronic mode on 2....
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....e issue is no more res integra as decided in favour of the assessee by the judgement of Hon'ble Delhi High Court who has concurred the view of the Special Bench of this Tribunal in the case of M/s. Biacon Ltd. vs DCIT in ITA No.368 to 371 & 1206/Bang./2010 [Banglore ITAT Special Bench]. 6. Ld. Sr. DR opposed these submissions. However, he conceded that the issue is covered in favour of the assessee by the judgement of Hon'ble Delhi High Court in the case of Lemon Tree Hotels Ltd. (supra). 7. We have heard the rival contentions and perused the material available on record. The solitary issue in this appeal is allowability of ESOP. We find that Ld.CIT(A) has in her decision relied on the judgement of Hon'ble Delhi High Court and the relevan....
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....lity, thus the expenditure incurred being on lines of the SEBI guidelines, there could be no interference in the relief granted by the Assessing Authority for the expenditure arising on account of Employees Stock Option Plan. This expenditure incurred as per SEBI guidelines and granted by the Officer could not be considered as erroneous one calling for exercise of jurisdiction under Section 263 of the Act. 12. In considering the other issues, the Tribunal ultimately pointed out the various grounds raised by the assessee as regards invoking of jurisdiction under Section 263 of the Act on the plain language of the said provision. The assessee contended that all that the Commissioner could do in exercise of power under Section 263 of the Act w....