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2017 (11) TMI 1860 - AT - Income TaxExpenses incurred towards the Employee Stock Option Plan (ESOP) as allowable u/s 37(1) - HELD THAT:- We find that the issue in the instant case is squarely covered in favour of the assessee by the order of the Co-ordinate Bench in the case of the assessee for the AY 2009-10 which says an identical issue was considered by the Tribunal Special Bench Bangalore in the case of Biocon vs. DCIT [2013 (8) TMI 629 - ITAT BANGALORE] and it has held that ESOP expenses is an allowable deduction u/s 37(1) of the Act.
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