Deduction u/s. 37(1) allowable towards ESOP expense since it is not contingent or notional

Goldman Sachs (India) Securities Pvt Ltd Vs National Faceless Assessment Centre (ITAT Mumbai)

ITAT Mumbai held that the Employee Stock Option Plans [ESOP] expenses should not be regarded contingent or notional and it should be allowed as deduction u/s 37(1) of the Income Tax Act.

Facts- During the assessment proceedings, from the perusal of the financial statement of the assessee, it was observed that employee cost include the cost of Restrictive Stock Unit and Stock Option’s Plan under the Goldman Sachs Group Inc. Further, it was noticed that the Stock In

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