TMI Blog2015 (7) TMI 1412X X X X Extracts X X X X X X X X Extracts X X X X ..... allowable as deduction in computing income under the head Profits and gains of business or profession. Since it is on account of an ascertained and not contingent liability, it cannot be treated as a short capital receipt. Thereafter, the Special Bench has laid down the mechanism for determining as to when and how much deduction should be allowed. It has been held that the liability to pay th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Special Bench in the aforenoted case. Assessee appeal is allowed for statistical purposes. - ITA No. 886/Del/2012 - - - Dated:- 10-7-2015 - Shri R.S. Syal, AM And Shri A.T. Varkey, JM For the Assessee : Shri Tarandeep Singh, CA. For the Department : Shri P. Dam Kanunjna, Sr. DR. ORDER PER R.S. SYAL, AM: This appeal by the assessee arises out of the order passe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Thereafter, the Special Bench has laid down the mechanism for determining as to when and how much deduction should be allowed. It has been held that the liability to pay the discounted premium is incurred during the vesting period and the amount of such deduction is to be found out as per the terms of ESOP by considering the period and percentage of vesting during such period. Deduction of the dis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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