2024 (12) TMI 1757

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.... 2022-23. 2. The assessee has raised following grounds of appeal: "1.Whether, on the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in allowing the claim of ESOP expenses without appreciating that by issuing shares at below the market price, the assessee company has not incurred any revenue expenditure, rather it resulted in short receipt of share premium which the assessed was otherwise entitled to, on capital account 2. Whether, on the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in allowing the claim of ESOP expenses without appreciating that as the receipt of share premium is not taxable, any short receipt of such premium will only be a notional los....

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....lculation of apportioning the year wise discount over the period of vesting taking into consideration the options granted to the employees and determination of the perk value and allow the same as per the provisions of the Income Tax Act 1961. This ground of appeal is thus allowed for statistical purposes." 6. Aggrieved with the order of Ld. CIT(A), the revenue is in appeal before us. 7. Ld. AR submitted that the issue has been earlier decided in assessee's favour in his own case for AY 2012-13. It was, further, submitted that the issue is now well settled as the Special Bench of ITAT, Bangalore in the case of M/s Viacom Ltd. has also decided the issue in favour of the assessee. There have been numerous other decisions including that ....