Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (9) TMI 1168 - AT - Income TaxAllowability of ESOP compensation expenses - CIT-A allowed the claim - HELD THAT:- CIT-A had done well reasoned order and we do not find any infirmity in the order of the CIT(A). Ld. CIT(A) after considering submissions and case laws cited/relied on by the assessee, he has rightly allowed the appeal of the assessee on the issue of ESOP compensation expenses. We also notice from the above order of the CIT(A) that the disputed amount has already been considered as a perquisite in the hands of the employees while calculating income of the employees Therefore this ground of revenue is dismissed. Disallowance u/s 14A - Proof of receiving exempt income - HELD THAT:- We observe from the order of the CIT(A) and financial statements filed by the assessee before us that in the impugned AY the assessee has not received any exempt income, therefore, no disallowance can be made As relying on M/S MAHESWARI MEGA VENTURES LTD. [2017 (2) TMI 402 - ITAT HYDERABAD] there is no substance in the grounds raised by the revenue regarding disallowance u/s. 14A in the case of the assessee. Therefore, this ground of appeal of revenue is dismissed.
|