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2023 (5) TMI 121 - AT - Income Tax
Disallowance of Payment of Employee Stock Option Plan ('ESOP') expenses - Allowable revenue expenses u/s 37(1) or not? - HELD THAT:- On identical facts, the Bangalore Bench of the Tribunal in assessee’s own case for assessment year 2015-2016 [2023 (4) TMI 793 - ITAT BANGALORE] had decided the ESOP expenses to be an allowable deduction. The Bangalore Bench of the Tribunal (supra) had followed the Co-ordinate Bench order in the case of Novo Nordisk India P. Ltd. [2013 (11) TMI 218 - ITAT BANGALORE].
Thus we hold that the expenditure towards ESOP is an allowable deduction u/s 37 - Decided in favour of assessee.