2015 (11) TMI 404

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..... ere 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. This Court has also in its decision CIT v. Oswal Agro Mills Ltd.(2015 (11) TMI 301 - DELHI HIGH COURT) held that the expenditure incurred in connection with issue of debentures or obtaining loan should be considered as revenue expenditure. .....

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..... Option ( ESOP ) in profit and loss account? 3.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. (TC(A) No. 1023 of 2005) 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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