Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (11) TMI 77 - AT - Income TaxShort granting of TDS credit - because of late deposit of TDS by some of the customers, a further incremental TDS credit was reflected in Form No.26AS - CIT-A held that the credit available in Form No.26As should have been granted by AO - HELD THAT:- We do not find any infirmity in the order of the Learned CIT-A in granting the total credit of TDS - It is not the case of the Revenue that the income comprising the TDS has not been offered by the assessee in its income in the impugned assessment year. Accordingly, we confirm the order of the Learned CIT-A on this issue and dismiss ground of the appeal of the Revenue. Disallowance of ESOP expenditure - allowable revenue expenditure u/s 37 or not? - CIT(A) deleted the addition - HELD THAT:- Issue is squarely covered in favour of the assessee by the decision of Biocon Ltd. [2020 (11) TMI 779 - KARNATAKA HIGH COURT] wherein it has been held that the above deduction is allowable to the assessee u/s 37(1) - CIT-A has further referred to the decision of PVP Ventures Ltd [2012 (7) TMI 696 - MADRAS HIGH COURT] holding similar view. Employees’ Stock Option Scheme expenditure incurred by the assessee is reimbursed to the holding company with respect to the employees employed by the assessee. This is equivalent to the emoluments paid to the employees of the assessee company. Therefore, it is part of employees’ remuneration. This is a crystallised expenditure and not notional or contingent. No infirmity in the order of the Learned CIT-A in directing deletion of disallowance. Decided against revenue.
|