Expense on issue of shares under ESOP allowable

Pr. CIT Vs Lemon Tree Hotels (P) Ltd. (Delhi High Court) The question of law urged with respect to expenditure claimed towards case of Employee Stock Ownership Plan (ESOP) has been subject matter of previous orders of this Court in respect of the present assessee. For A.Y. 2008-09 in ITA 107/2017 (Commissioner of Income Tax Vs. Lemon Tree Hotel Ltd.), the Court held that since the ITAT followed the previous judgments in Commissioner of Income Tax vs. PVP Ventures Ltd. [TC(A) No. 1023 of 2005] the expenditure had to be allowed. Likewise, for another assessment year, this court did not frame the...