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In the result, the appeal of the Department is dismissed
Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal
15A) of the Indian Companies Act, 1956 which defines ESOP to mean the option given to employees which gives them right to purchase or subscribe to securities at a future date but at a predetermined price. Therefore, the AO was correct in taking the view, the ITA Nos.142&143/Ahd/2024 & 48&49/Ahd/2024 Axis Bank Ltd. vs. ACIT & ACIT vs. Axis Bank