TMI Blog2017 (11) TMI 1860X X X X Extracts X X X X X X X X Extracts X X X X ..... ntical issue was considered by the Tribunal Special Bench Bangalore in the case of Biocon vs. DCIT [2 013 (8) TMI 629 - ITAT BANGALORE ] and it has held that ESOP expenses is an allowable deduction u/s 37(1) of the Act. - ITA No. 5679/MUM/2015 - - - Dated:- 24-11-2017 - SHRI MAHAVIR SINGH (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) For the Appellant : Mr. Rajesh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... securities at a price lower than the market price. As per the scheme, the difference between the exercise value and the market value is paid by the company. This is a practice which is exercised in order to benefit the employees to retain them. As it leads to the change in number of shares or the share capital, the AO observed that it affects the capital of the company. Therefore, the AO made a d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 4542/Mum/2013), which reads ad under: We have carefully perused the orders of the authorities below and the decision of the Tribunal brought to our notice. The grievances of the assessee is that the Ld. CIT(A) erred in confirming the disallowance of ₹ 1,20,47,684/- claimed u/s 37(1) of the Act towards Employees Stock Option Plan (ESOP) expenses as capital expenditure. An identic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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