2018 (11) TMI 647

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..... hit Jolly, Mr. Siddharth Joshi, Advs. O R D E R The Revenue seeks the direction to set aside the order of the Income Tax Appellate Tribunal (ITAT) and restore the order of the Assessing Officer. The fact that the Assessing Officer had levied penalty, on the amount of Rs. 22, 22,58,778/- and brought to tax under Section 37 of the Income Tax Act. These deductions were claimed as ESOP expenses for .....

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..... Tax-6 Vs. New Delhi Television Ltd. (ITA 107/2017 decided on 27.2.2017). The judgment of this Court in ITA No.107/2017 (New Delhi Television Ltd.) shows that the substantive addition under Section 37, was held to be not unwarranted. The Court had approved the ITAT order which had in turn relied upon the ruling of the Tribunal in Biocon Limited v. DCIT [2013] 144 ITD 21 (Bang) (SB). Besides, the .....

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