Discount on shares under ESOPs is allowable expenditure

Brief of the Case

ITAT Chandigarh held In the case of M/s GlaxoSmithKline Consumer Healthcare Ltd vs. The JCIT that it is a settled law that an unascertained liability has to be allowed even if the same is quantified on a future date. In this case the incentive plan so formulated by the assessee is a very common form of scheme formed by many of the companies popularly known as ‘ESOP’ scheme.

The terms and conditions of the investment plan of the assessee ar

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