ESOP Disallowance Deleted; LTCG on Kodaikanal Land Remanded for Re-Examination

Sterling Holiday Resorts Ltd Vs DCIT (ITAT Mumbai)

The ITAT Delhi heard appeals filed by both Sterling Holiday Resorts Ltd (“the assessee”) and the revenue concerning the assessment for A.Y. 2018-19. The primary issues involved the disallowance of Employee Stock Option Plan (ESOP) expenses, computation of long-term capital gains (LTCG) on the sale of Kodaikanal land, and the deferral of income from time-share membership fees.

ESOP Expense Disallowance: The assessee challenged the disallowance of Rs. 54,53,100 claimed as ESOP expenses, arguing that the co

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