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TMI Blog2018 (1) TMI 846X X X X Extracts X X X X X X X X Extracts X X X X ..... ,57,10,475/-, ₹ 42,34,51,666/- have been included as perquisite during the FY’s 2008-09 to 2012-13 itself (including under FBT in FY 2008-09 and expenses have been correctly claimed as expenses, as amortized over the years. Hence, CIT(A) by respectfully following the above precedents, has rightly deleted the addition in dispute and allowed the appeal of the assessee. - I.T.A. No.4872/DEL/2016 - - - Dated:- 5-1-2018 - SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI T.S. KAPOOR, ACCOUNTANT MEMBER For The Revenue : Ms. Ashima Neb, Sr. DR For The Assessee : one ORDER PER H.S. SIDHU : JM The Revenue has filed this Appeal against the impugned Order dated 31.5.2016 of the Ld. CIT(A)-23, New Delhi relevant to assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esent Appeal, we are of the view that no useful purpose would be served to issue notice again and again to the assessee, therefore, we are deciding the present appeal exparte qua assessee, after hearing the Ld. DR and perusing the records. 6. We have heard Ld. DR and perused the records, especially the order of the Ld. CIT(A). We find that earlier in Ld. CIT(A) s order dated 03.11.2014 passed in Appeal Nos.76 to 79/14-15 82/14-15 in AYs 2009-,10 to 2012-13 and 2008-09 respectively, the order dt. 26.09.2014 of the ITAT Delhi Bench 'B' New Delhi in ITA NO.833/Del/2012 for AY 2008-09 in the assessee s own case, as also the order dt. 16.07.2013 of the ITAT Bangtore Bench (Special Bench) in Biocon Ltd Vs DCIT(LTU) (2013) 35 taxman.c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been decided in favour of the assessee. In fact the amortization of expenses, being the cost of the discounted value of shares allotted to the employees under the ESOP scheme dated 01.04.2007 to 30.05.2011, have been claimed by the assessee and the same being taxable in the hands of the respective employees have been included in their taxable income as perquisite u/s 17(2)(iiia) of the Act. After perusing the details of the perquisite value it is observed that against the total cost of amortized expenses of ₹ 44,57,10,475/-, ₹ 42,34,51,666/- have been included as perquisite during the FY s 2008-09 to 2012-13 itself (including under FBT in FY 2008-09 and expenses have been correctly claimed as expenses, as amortized over the yea ..... X X X X Extracts X X X X X X X X Extracts X X X X
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