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2018 (1) TMI 1677 - HC - Income TaxViolation of the ESOP option provided by the assessee to its employees - AO disallowed the loss claimed on the ground that it was not a crystallised liability of the assessee - HELD THAT:- CIT (A) and the ITAT by concurrent findings followed the judgment of the Madras High Court in Madras High Court in CIT v. P.V.P. Ventures Ltd. [2012 (7) TMI 696 - MADRAS HIGH COURT] as well as the decision of this Court in CIT v Oswal Agro Mills Ltd. [2015 (11) TMI 301 - DELHI HIGH COURT] and held that issue of debentures or obtaining loans are to be considered as revenue expenditure and consequently the cost of ESOP should be debited to the profit & loss account of the assessee. These decisions were later applied in CIT v. Lemon Tree Hotels Ltd. [2015 (11) TMI 404 - DELHI HIGH COURT] In the circumstances, the view of the ITAT is reasonable and justified. No question of law arises. The appeal is, therefore, dismissed.
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