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Discount on issue of ESOP allowable as deduction from business income
Case Law Details
- Case Name
- DCIT Vs Goldman Sachs (India) Securities Pvt. Ltd (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Mumbai
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DCIT Vs Goldman Sachs (India) Securities Pvt. Ltd (ITAT Mumbai)
ITAT Mumbai held that discount on issue of Employee Stock Option Plan [ESOP] is allowable as deduction in computing income under the head profits and gains of the business. Accordingly, appeal of revenue dismissed and order of CIT(A) upheld.
Facts- AO completed the assessment u/s. 143(3) read with section 144C(1) of the Act on 28.12.2016 by making disallowances towards Employee Stock Option Plan (ESOP) cost of Rs. 5 6,44,29,191/ -, holding the same to be notional and contingent in nature; and charges of Rs. 37,11,074/- paid to th...
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