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2018 (10) TMI 1962 - ITAT MUMBAIDisallowance u/s. 14A r.w.s. Rule 8D - CIT-A deleted the addition - HELD THAT:- Disallowance was deleted for the reason that the assessee has its own funds far exceeding the investments. The Ld.CIT(A) followed the decision of the Hon'ble Jurisdictional High Court in the case of CIT v. Reliance Utilities & Power Ltd. [2009 (1) TMI 4 - BOMBAY HIGH COURT], CIT v. HDFC Bank Ltd. [2014 (8) TMI 119 - BOMBAY HIGH COURT] and HDFC Bank Ltd [2016 (3) TMI 755 - BOMBAY HIGH COURT]- Thus, we do not find any infirmity in the order passed by the Ld.CIT(A). This ground is rejected. Addition of Employee Stock Option Scheme [ESOP] expenses - revenue or capital expenditure - AO disallowed the ESOP expenses treating them as capital expenditure - As per CIT-A there are allowable as Revenue expenses u/s. 37 - HELD THAT:- CIT(A) following the decision of the Hon'ble Jurisdictional Tribunal in the case of DCIT v. Accenture Services (P.) Ltd [2010 (3) TMI 1107 - ITAT MUMBAI] and the Bangalore Bench of the Tribunal in the case of M/s. Novo Nordisk India (P.) Ltd. [2013 (11) TMI 218 - ITAT BANGALORE] and also the decision in the case of CIT v. Lemon Trees Hotel Pvt. Ltd. [2015 (11) TMI 404 - DELHI HIGH COURT] held that the ESOP expenses are Revenue expenses and therefore reimbursement of ESOP expenses by the assessee was deleted . We do not find any infirmity in the order passed by the Ld.CIT(A), hence the same is sustained. - Decided against revenue.
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