2025 (3) TMI 1710

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....nt Represented : P.N. Barnwal, CIT-DR ORDER PER SANJAY AWASTHI, ACCOUNTANT MEMBER: 1. This appeal arises from order passed u/s 250 of the Income Tax Act, 1961 [hereafter 'the Act] by the Ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [hereafter "the Ld. CIT(A)], vide order dated 01.12.2023. 1.1 The brief facts are that the assessee had claimed d....

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....2,243/- made by the AO on account of disallowance of ESOP expenses without appreciating the fact that ESOP expense is notional and that too of capital nature. 2. That the appellant craves leave to add to and/or alter, amend, modify or rescind the grounds hereinabove before or hearing of this appeal." 2.1 Right at the outset, it was pointed out by the Ld. AR of the assessee that this ma....

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....tes for the parties and carefully perused the materials on record. The legal issue involved in this appeal is squarely covered by the decision of three High Courts in favour of the assessee. The first of which is in the case of CIT v. PVP Ventures Ltd. [2012] 23 taxmann.com 286 and followed by the decision in CIT-v-Lemon Tree Hotels Ltd., [2019] ITA No. 107 of 2015 dated 18.08.2015, High ....