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2017 (12) TMI 1581 - HC - Income TaxDifference between the market price and the employees stock option plan - revenue expenditure allowable under Section 37(1) - Held that:- The Tribunal relied upon the decision of the Hon'ble Division Bench of this Court, to which, one of us (KRCBJ) was a party, in the case of CIT Vs. PVP Ventures Ltd. [2012 (7) TMI 696 - MADRAS HIGH COURT] and dismissed the appeal filed by the Revenue. The special leave petition filed by the Revenue against the said decision was also dismissed by the Hon'ble Supreme Court [2014 (3) TMI 1127 - SUPREME COURT] It is seen that the Hon'ble Supreme Court had given reasons and rightly dismissed the special leave petition. Therefore, we do not agree with the submission that the dismissal of the special leave petition was a dismissal simplicitor. The questions of law, having already been answered against the Revenue and in favour of the assessee in the case of PVP Ventures Ltd., we are bound to follow the same, which was rightly taken note of by the Tribunal. - Decided in favour of assessee
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