SC Dismisses Revenue Appeal as ESOP Allotment Expense Is Allowable

Advertisement PCIT Vs Lemon Tree Hotels Pvt. Ltd. (Supreme Court of India) The Supreme Court condoned the delay, granted leave, tagged the matter with Civil Appeal No. 1564 of 2017, and dismissed the Revenue’s appeal after holding that no question of law arose on the issues raised. The first issue concerned the allowability of expenditure claimed towards the Employee Stock Ownership Plan (ESOP). The Court noted that the same issue had already been decided in earlier proceedings involving the same assessee. For Assessment Year 2008-09, the Court had held that the Income Tax Appellate Tribu...