High Court Rules ESOP and ESPS Stock Price Difference as Allowable Revenue Expenditure u/s 37(1) of Income Tax Act.

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....Allowable revenue expenditure u/s 37(1) - difference between the price at which stock options were offered to employees of the appellant company under ESOP and ESPS and the prevailing market price of the stock on the date of grant of such options - Claim allowed as revenue expenditure - HC....