Expenses debited as cost of ESOP in profit and loss account allowable

In case of CIT vs. Lemon Tree Hotels Ltd Following the Madras High Court in CIT-III Chennai v. PVP Ventures Ltd. (TC(A) No. 1023 of 2005) it was held by Delhi High Court that  ESOP could be debited to the profit and loss account of the Assessee. Delhi High Court Court has also in its decision dated 4th August 2015 in ITA No.2 of 2002 (CIT v. Oswal Agro Mills Ltd.) held that the expenditure incurred in connection with issue of debentures or obtaining loan should be considered as revenue expenditure. Full Text of the High Court Judgment is as follows :- HIGH COURT OF DELHI AT NEW DELHI ITA 107/...