Employee unit option scheme

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..... - For the above purpose, employees of the manager shall include all directors of the manager except independent directors. SHRIRAM TRANSPORT FINANCE COMPANY LIMITED- [2022 (6) TMI 1428 - MADRAS HIGH COURT] As per the notification No. 323/2001 (F.No. 142/48/2001-TPL) dated 11.10.2001 issued by CBDT, the assessee companies have to follow the SEBI guidelines. ➢ As per the SEBI guidelines 1 .....

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..... he output and profit of the company. Therefore, the ESOP expenditure is commercial expediency. In this context, the CIT(A) referred to the decision of the Hon'ble supreme court in SA Builders Ltd [288 ITR 1]. ➢ The orders of the ITAT, Chandigarh in ACIT Versus Spray Engineering Devices Ltd. - 2012 (7) TMI 587 - ITAT CHANDIGARH, wherein, it was held that 'the value of shares allotte .....

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..... incurred for such purpose is nothing but revenue expenditure. It is a general principle that any expenditure incurred for the purpose of business is a deductible expenditure and the amount spent by an assessee for labour / employees' welfare, would be deductible as revenue expenditure. In the decision of the Karnataka High Court in The CIT, The Dy. CIT Versus M/s. Biocon Ltd. - 2020 (11) TMI .....

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