ESOP cross-charge is allowable expenditure u/s 37(1) of the Income Tax Act

Hewlett Packard (India) Software Operation Pvt. Ltd. Vs DCIT (ITAT Bangalore)

ITAT Bangalore held that expenditure of ESOP cross-charge is wholly and exclusively for the purpose of business, said amount remitted by the assessee to ultimate holding company, and hence allowable expenditure u/s 37(1) of the Income Tax Act.

Facts-

The appellant company is engaged in providing Application Maintenance and Development, Enterprise Resource Plann

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