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2015 (11) TMI 404 - DELHI HIGH COURT

2015 (11) TMI 404 - DELHI HIGH COURT - TMI - Disallowance of the expenses debited as cost of Employees Stock Option (‘ESOP’ ) - Held that:- The Court has been shown a copy of the decision dated 19th June 2012 passed by the Division Bench of Madras High Court in CIT-III Chennai v. PVP Ventures Ltd. (2012 (7) TMI 696 - MADRAS HIGH COURT ) where a similar question was answered in favour of the Assessee by holding that the cost of ESOP could be debited to the profit and loss account of the Assessee. .....

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Advocate. ORDER 1. This appeal by the Revenue under Section 260A of the Income Tax Act, 1961 ( Act ) is directed against the order dated 23rd June 2014 passed by the Income Tax Appellate Tribunal ( ITAT ) in ITA No. 4588/Del/2013 for the Assessment Year ( AY ) 2008-09. 2. The question sought to be projected by the Revenue is whether the ITAT erred in deleting the addition of ₹ 1,28,19,169/- made by the Assesssing Officer ( AO ) by way of disallowance of the expenses debited as cost of Empl .....

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