ESOP Discount Is Allowable Business Expenditure Despite Pending SLP: ITAT Mumbai

Strides Pharma Science Limited Vs ITO (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT), Mumbai, partly allowed the assessee’s appeal for Assessment Year 2020-21 arising from the assessment completed under Sections 143(3) read with 144B of the Income-tax Act, 1961. The appeal involved disallowances relating to ESOP expenses, weighted deduction for scientific research, Section 14A disallowance, business promotion expenditure, deduction under Section 80G, and other claims. The first substantive issue concerned the disallowance of Employee Stock Option Plan (ESOP) expenses of ₹1.58 crore...