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AO’s proper inquiry on ESOP expenses: ITAT quashes revision order
Case Law Details
- Case Name
- Make My Trip (India) Private Limited Vs DCIT (International Taxation) (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Delhi
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Make My Trip (India) Private Limited Vs DCIT (International Taxation) (ITAT Delhi)
Conclusion: Revision order issued by PCIT was quashed against Make My Trip (India) Private Limited as AO had conducted a proper inquiry before allowing the deduction of Employee Stock Option Plan (ESOP) expenses.
Held: Assessee-company was operated as a travel agent and tour operator and was a subsidiary of Make My Trip Limited, Mauritius. AO completed the assessment for the Assessment Year 2011-12 under section 143(3) read with section 92CA(3). PCIT reviewed the records and found that assessee ...
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