TMI Blog2023 (5) TMI 1139X X X X Extracts X X X X X X X X Extracts X X X X ..... reliance on the decisions of Biocon Limited [ 2013 (8) TMI 629 - ITAT BANGALORE] , PVP Ventures Limited [ 2012 (7) TMI 696 - MADRAS HIGH COURT] and the decision of NDTV [ 2017 (2) TMI 1399 - DELHI HIGH COURT] before the CIT(A) and held that such cost cannot be considered as contingent in nature Assessee before the CIT(A) brought on record that for AY 2011-12, the AO has allowed the claim of such expenses. The CIT(A) in these facts held that disallowance of employee share based payment was not permissible u/s 154 of the Act and deleted the addition. We find no infirmity in the impugned order, hence, the same is upheld and appeal of the Revenue is dismissed being devoid of any merit. Appeal of revenue dismissed. - ITA No.2429/MUM/2019 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3,264/- is a contingent liability. The AO vide order dated 30.03.2016 passed u/s 154 of the Act added back the aforesaid amount to the total income assessed u/s 143(3) r.w.s. 144C(3) of the Act dated 21.01.2014. Thus, revising the taxable income to Rs.755,37,89,094/-. Aggrieved by the order dated 30.03.2016 passed u/s 154 of the Act, the assessee filed appeal before the CIT(A). The CIT(A) after examining the facts deleted the addition made vide impugned order. Hence, the present appeal by the Revenue. 4. The Department in appeal has raised single effective ground, the same reads as under: 1. Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) erred in deleting the addition of Rs.5,41,73,264/- on account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bjection in support of the order of CIT(A). In case appeal of the Revenue is dismissed, the Cross Objection would become infructuous. 7. We have head the submissions made by rival sides and have examined the orders of authorities below. The AO in proceedings u/s 154 of the Act has disallowed assessee s claim of deduction of employee share based payment reserve amounting to Rs.5,41,71,264/- by treating it as contingent liability. The case of assessee is, the amount represents cost in relation to the award of shares under Vodafone Global Incentive Plan. The Employees covered under the said plan were granted an award which entitles them to receive shares of Vodafone Group Plc (the ultimate holding company of the assessee). Since, the expend ..... X X X X Extracts X X X X X X X X Extracts X X X X
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