Pr. Commissioner Of Income Tax, Delhi - 05 v. Lemon Tree Hotels Pvt. Ltd

$~33 *IN THE HIGH COURT OF DELHI AT NEW DELHI+ITA 862/2016 & CM No.44756/2016 PR. COMMISSIONER OF INCOME TAX, DELHI - 05..... AppellantThrough:Mr. Raghvendra Singh and Mr.RahulChoudhary, Advocates. Versus LEMON TREE HOTELS PVT. LTD...... RespondentThrough:Mr. Pranjal Srivastava, Advocate. CORAM: HON'BLE MR. JUSTICE S. RAVINDRA BHATHON'BLE MR. JUSTICE NAJMI WAZIRIO R D E R%02.12.2016 The question of law urged is, “whether the Income Tax AppellateTribunal (ITAT) fall into error in deleting the disallowance of expensesdeducted as cost of Employees Stock Auction Plan (ESOP)? ” The Revenue contends that the assessee/Revenue fell into errorinasmuch as even though took note of the decision of this Court for theprevious year (ITA No.107/2013 decided on 18.08.2015) to the extent itrelied on CIT Vs. Oswal Agro Mills Limited has not applied the lawcorrectly. In this regard, learned counsel relied upon the judgment of theSupreme Court in Punjab State Industrial Development Corporation Ltd.,Chandigarh Vs. Commissioner of Income Tax, Patiala [1997] 225 ITR 792(SC) . The judgment in Commissioner of Income Tax Vs. Havells IndiaLimited [2013] 352 ITR 376, was considered specifically in Oswal Agro’scase (supra) i.e. decided on 04.08.2015.Havells’case (supra) had takennote of the various judgments including Punjab State’s case (supra).Moreover, this Court notices that the question of law arose only for twoyears i.e. Assessment Years 2008-09 and 2009-10.There were previousorders which cover Assessment Year 2008-09. In the circumstances, havingregard to the overall circumstances and the fact that the previous orders tooknote of the relevant judgments, it is held that no substantial question of lawarises. The appeal is dismissed. S. RAVINDRA BHAT, J. DECEMBER 02, 2016sb NAJMI WAZIRI, J.