ESOP Expenditure for Business Purposes Allowed as Deduction u/s 37; Motivation Benefits Don't Deny Claims.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Disallowance with respect to expenditure on ESOP u/s 37 - the expenditure in question is wholly and exclusively for the purpose of the business of the assessee and the fact that the parent company is also benefited by reason of a motivated work force would be no ground to deny the claim of the assessee for deduction, which otherwise satisfies all the conditions referred to in section 37(1) - claim allowed - AT....