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2018 (1) TMI 846 - AT - Income TaxDisallowance of ESOPs expenses - Held that:- The facts of the matter are similar to that of the preceding AYs 2008-09 to 2012-13 which have been decided in favour of the assessee. Amortization of expenses, being the cost of the discounted value of shares allotted to the employees under the ESOP scheme dated 01.04.2007 to 30.05.2011, have been claimed by the assessee and the same being taxable in the hands of the respective employees have been included in their taxable income as perquisite u/s 17(2)(iiia) of the Act. Perusing the details of the perquisite value it is observed that against the total cost of amortized expenses of ₹ 44,57,10,475/-, ₹ 42,34,51,666/- have been included as perquisite during the FY’s 2008-09 to 2012-13 itself (including under FBT in FY 2008-09 and expenses have been correctly claimed as expenses, as amortized over the years. Hence, CIT(A) by respectfully following the above precedents, has rightly deleted the addition in dispute and allowed the appeal of the assessee.
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