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2023 (2) TMI 1063 - AT - Income TaxNature of expenses - Employees Stock Expenses (ESOP) as an allowable expense u/s 37(1) - AO had disallowed the expenditure by holding it to be capital in nature and not allowable u/s 37(1) - HELD THAT:- We find that CIT(A) after considering the various High Court’s and Tribunal’s decisions held the ESOP expenses to be allowable u/s 37(1) of the Act. Before us, Revenue has not placed any material on record to point out any fallacy in the findings of CIT(A) nor has placed any contrary binding decision in its support. In such a situation, we find no reason to interfere with the order of CIT(A) and thus the ground of Revenue is dismissed.
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