In the case of C.T. Raghu Vs ITO, the Karnataka High Court addressed a dispute involving the rejection of a tax audit report for the assessment year 2012-13. The petitioner’s claim had been rejected ...
Conclusion: The Karnataka High Court, upholding the ITAT’s order, reiterated that discounts on the issuance of ESOPs are allowable deductions under Section 37 (1) of the Income Tax Act, in line with ...