Delhi HC allows Difference in Purchase & Sale Price of Stock Appreciation Rights as Revenue Loss

PCIT Vs Religare Securities Ltd (Delhi High Court) Delhi High Court held that difference between purchase price of Stock Appreciation Right and the sale price at the time of exercise by the employees, holding the same to be revenue loss allowable as business deduction as expenditure incurred as per SEBI guidelines. Facts- Revenue has preferred the present appeal mainly contesting that ITAT has erred in deleting the disallowance of Rs.2,04,87,736/- confirmed by the ld. CIT(A) on account of the difference between purchase price of Stock Appreciation Right ( SAR) and the sale price of such SAR at...