2021 (10) TMI 917

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....E RAVI V. HOSMANI Appellants (By Sri E.I. Sanmathi, Adv.) Respondent : None JUDGMENT S. SUJATHA, J., This appeal is filed by the Revenue under Section 260A of the Income Tax Act, 1961 (for short, 'the Act') assailing the order dated 02.08.2019 passed by the Income Tax Appellate Tribunal, Bengaluru Bench, in ITA. No.937/Bang/2019 relating to the assessment year 2013-14 raisin....

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.... the assesee filed an appeal before the Commissioner of Income Tax (Appeals), wherein the Commissioner followed the decision of the Bangalore Special Bench in the case of BIOCON LIMITED & OTHERS .v. DCIT & OTHERS (2013) 35 Taxman.com 335 and allowed the appeal of the assessee. Aggrieved by the same, the Revenue had preferred an appeal before the Tribunal which came to be dismissed, following the d....

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....under for ready reference: "(i) Whether on the facts and in the circumstances of the case and in law the tribunal was right in holding that the discount on issue of ESOP is allowable deduction in computing the income under the head profits and gains of the business? (ii) Whether on the facts and in the circumstances of the case and in law the tribunal was right in holding that di....