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2023 (4) TMI 143 - AT - Income TaxDisallowance of the expenses incurred in relation to ESOP cost - As per DR any short receipt of such premium would only amount to a notional loss and not actual loss requiring any deduction u/s. 37(1) of the Act as it was a capital expenditure - CIT(A), NFAC deleted the addition - HELD THAT:- Hon’ble High Court of Delhi in the case of CIT Vs. Lemon Tree Hotels Ltd. [2015 (11) TMI 404 - DELHI HIGH COURT] on a similar issue which was considered by the Coordinate bench in the case of ACIT Vs. People Strong HR Services (P) Ltd. [2021 (12) TMI 553 - ITAT DELHI] decided issue in favour of assessee. Considering the facts on record and the judicial precedents referred above as well as going through the analysis of the test contemplated u/s. 37(1) of the Act by the ld. CIT(A), we do not find any reason to interfere with the finding arrived at by the CIT(A). Accordingly, ground taken by the revenue in this respect is dismissed.
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