Search Results Page

Search Results

1 - 2 of 2 (0.50 seconds)
Documents citing M/S Mother India Foundation, New Delhi vs Addl. Dit, New Delhi on 17 August, 2017

M/S Glaxosmithkline Consumer ... vs Acit, Chandigarh on 17 November, 2017

It is also a settled law that an unascertained liability has to b e a l l o we d e v e n i f t h e s a me i s q u a n t i f i e d o n a f u t u r e d a t e . T h e i n c e n t i v e p l a n s o f o r mu l a t e d b y t h e a s s e s s e e i s a v e r y c o m mo n f o r m o f s c h e me f o r me d b y m a n y o f t h e c o m p a n i e s p o p u l a r l y k n o wn a s ' E S O P ' s c h e me . T h e t e r ms a n d conditions of the investment plan of the assessee a r e s a me a s i n a n y g e n e r a l s c h e me o f E S O P . The question of liability of this type of provision c a me b e f o r e t h e B a n g a l o r e B e n c h o f t h e T r i b u n a l in the case of Biocon Limited (supra). The basic q u e s t i o n i n t h a t c a s e a l s o wa s wh e t h e r t h e provision made for ESOP during the year is an ascertained liability under section 37(1) of the Act. T h e S p e c i a l B e n c h d e a l i n g wi t h t h e i s s u e held that the discount in relation to options 19 lapsing during the year cannot be held as contingent liability and such expenditure is on a c c o u n t o f a n a s c e r t a i n e d l i a b i l i t y i n f o l l o wi n g t e r ms :
Income Tax Appellate Tribunal - Chandigarh Cites 22 - Cited by 1 - Full Document
1