The Tribunal upheld the CIT(A)'s decision on various issues, ...

Tribunal Upholds CIT(A) Decision: ESOP Deductibility, Section 14A Limits, Share Capital Expenses, Stale Cheques as Liabilities.

February 9, 2024

Case Laws Income Tax AT

The Tribunal upheld the CIT(A)'s decision on various issues, dismissing the appeal of the Revenue. The implications include the affirmation of the deductibility of ESOP compensation, the restriction of disallowance under section 14A to investments yielding exempt income, the allowance of expenses related to the increase in authorized share capital, the recognition of legal and professional expenses as revenue expenditure, and the treatment of stale cheques as liabilities until settled or adjusted.

View Source

← Previous Next →

The Tribunal upheld the CIT(A)'s decision on various issues, ...

Tribunal Upholds CIT(A) Decision: ESOP Deductibility, Section 14A Limits, Share Capital Expenses, Stale Cheques as Liabilities.

February 9, 2024

Case Laws Income Tax AT

You may also like:

The assessee, engaged in the business of shares and securities, claimed administration expenses, including Portfolio Management Service (PMS) expenses, against capital...

In a case before ITAT Delhi, the issue was whether expenses incurred on Employee Stock Option (ESOP) scheme are allowable u/s 37(1). The AO disallowed the expenses,...

Correct head of income - treatment of income from sale and purchase of shares - business income or income from capital gains - high volume of transactions and frequently...

Disallowance of ESOP expenses - in terms of ESOP if an assessee offers shares of its parent company to its employees the difference between the FMV of the shares of the...

The case involves the interpretation of u/s 55(2)(b)(i) and u/s 55(2)(aa)(B)(iiia) of the Income Tax Act regarding the cost of acquisition of bonus shares. The Tribunal...

Payment of interest on share application money - Nature of expenditure - the assessee with an object to increase share capital has incurred expenses in the form of...

Assessee's appeal allowed regarding disallowance of interest u/s 14A as its own funds exceeded investments yielding exempt income. CIT(A) rightly deleted disallowance of...

Assessee followed joint venture model for sharing revenue with collaborators as per franchise agreement. Assessee recorded all revenues, incurred expenditure, and shared...

Disallowance u/s 35DD - fees for increase in authorized share capital - because of amalgamation proceedings, there was need to increase in authorized share capital and...

ITAT quashed revision order under s.263 regarding ESOP expenses claimed by assessee as deduction. Assessee provided comprehensive documentation including TP report under...

The assessee, an NRI and resident of USA, transferred a capital asset and derived capital gain. The asset comprised rights and interests acquired through an assignment...

Nature of expenses - Relaunch expenses - deferred revenue expenditure claimed to the extent of 1/3rd in each of the year -The tribunal disagreed with the AO's...

Assessee company successfully proved genuineness of share capital and share premium received from various private limited companies. Creditworthiness and identity of...

Reduction of issued, subscribed, and paid-up equity share capital u/s 66 of the Companies Act, 2013. Compliance with Sections 66(1), 66(2), and 66(3) satisfied....

Addition u/s 68 - share capital issued at the premium - unexplained cash credit - Assessee has fully discharged its onus cast under section 68 of the Act and proved the...

Quick Updates: