Discount on issue of ESOP is allowable expenditure u/s 37(1)

Morgan Stanley Advantage Services Pvt. Ltd Vs CIT (A) (ITAT Mumbai)

ITAT Held that discount on issue of ESOP is allowable as deduction under the head Profits & Gains of Business or Profession.

Facts- The assessee-company is engaged in the business of rendering front office and back office support to the Morgan Stanley group of companies globally. The assessee-company has shown income under the heads “Business & Profession”, “Capital Gains” and “Income fro

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