ESOP Expenses are allowable expenditure u/s 37(1) of Income Tax Act: ITAT grants relief to HDFC Bank [Read Order]

ITAT - ITAT Mumbai - Income tax - HDFC Bank - ESOP - taxscan

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) held that Employee Stock Option Plan ( ESOP ) expenses are allowable expenditure under Section 37(1) of the Income Tax Act, 1961. Therefore the bench granted relief to HDFC Bank. The Assessee, HDFC Bank Ltd filed the appeal against the order of the…

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