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Documents citing Marsh India Insurance Brokers Private ... vs Dcit-Cc-7(2)(2), Mumbai on 28 April, 2023

Goldman Sachs (India) Securiteis ... vs Add/Jt/Dy/Asst/Cit/Ito/Nfac, Delhi on 9 December, 2024

 As the Assessee is required to pay aforesaid sum to GSGI on account of the grant of the RSUs to its employees, such payment being an actual expenditure for the Assessee is considered as part of the compensation cost of the employees in the year in which it is incurred in accordance with the method of accounting followed 5.2.2 Therefore, the ESOP expenses should not be regarded contingent or notional and it should be allowed as deduction u/s 37(1) of the IT. Act. The appellant had relied on the decision of DCIT v Accenture Services P Lid [ITA No. 4540/M/08 order dated 23" March 2010] and Nordisk India Private Limited v DCIT -12(2) (ITA No. 1275/Bang/2011) (Bang Trib).
Income Tax Appellate Tribunal - Mumbai Cites 37 - Cited by 0 - Full Document

Goldman Sachs (India) Securities ... vs Acit Cir 7 (1) (1) , Mumbai on 3 June, 2025

• The Assessee pays a sum to GSGI upon the delivery of the RSUs (pertaining to shares of GIGI) to employees of the Assessee. • The sum payable by the Assessee to GSGI is determined with reference to the value of the shares of GSGI as on the date of vesting of the RSUs. • As the Assessee is required to pay aforesaid sum to GSGI on account of the grant of the RSUs to its employees, such payment being an actual expenditure for the Assessee is considered as part of the compensation cost of the employees in the year in which it is incurred in accordance with the method of accounting followed 5.2.2 Therefore, the ESOP expenses should not be regarded as contingent or notional and it should be allowed as deduction u/s 37(1) of the IT. Act. The appellant had relied on the decision of DCIT v Accenture Services P Ltd [ITA No. 4540/M/08 order dated 23rd March 2010] and Novo Nordisk India Private Limited v DCIT -12(2) (ITA No.1275/Bang/2011) (Bang Trib).
Income Tax Appellate Tribunal - Mumbai Cites 17 - Cited by 0 - Full Document
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