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2015 (6) TMI 1200 - AT - Income TaxDisallowance towards Employee Stock Option Plan (ESOP) expenses - Revenue or capital expenditure - HELD THAT:- An identical issue was considered by the Tribunal Special Bench Bangalore in the case of Biocon [2013 (8) TMI 629 - ITAT BANGALORE] has held that ESOP expenses is an allowable deduction u/s. 37(1). The same view was followed by ITAT Pune Bench in the case of Sandvik Asia [2014 (12) TMI 1236 - ITAT PUNE] . Respectfully following the decision of the Co ordinate Benches, we set aside the order of the Ld. CIT(A) and direct the AO to allow the ESOP expenses as revenue expenditure. - Appeal filed by the assessee is allowed.
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