{"id":63670,"date":"2026-08-04T05:45:59","date_gmt":"2026-08-04T00:15:59","guid":{"rendered":"https:\/\/itatonline.org\/digest\/hdfc-bank-ltd-successor-to-housing-development-finance-corporation-ltd-v-dy-cit-2025-125-itr-629-mum-trib-3\/"},"modified":"2026-08-04T05:45:59","modified_gmt":"2026-08-04T00:15:59","slug":"hdfc-bank-ltd-successor-to-housing-development-finance-corporation-ltd-v-dy-cit-2025-125-itr-629-mum-trib-3","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/hdfc-bank-ltd-successor-to-housing-development-finance-corporation-ltd-v-dy-cit-2025-125-itr-629-mum-trib-3\/","title":{"rendered":"HDFC Bank Ltd. (Successor to Housing Development Finance Corporation Ltd.) v. Dy. CIT (2025) 125 ITR 629 (Mum.)(Trib.)"},"content":{"rendered":"<p>The assessee claimed deduction of the discount on shares issued to employees under the Employees&#8217; Stock Option Plan. The Tribunal held that the dominant object of the scheme was to secure and retain efficient employees and not to raise share capital. The discount represented employee compensation and constituted revenue expenditure allowable under section 37(1). The Tribunal held that in the absence of any finding that the entertainment and guest house expenditure was not incurred wholly and exclusively for the purposes of business, the disallowance could not be sustained. The deletion made by the Commissioner (Appeals) was upheld.<strong>\u00a0 (<\/strong>AY. 1999-2000 to 2001-02).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1): Business expenditure-Employees&#8217; Stock Option Plan-Discount on issue of shares-Revenue expenditure allowable- Entertainment and guest house expenses-No finding that expenditure was not incurred for business-Disallowance deleted.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-63670","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gyW","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=63670"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63670\/revisions"}],"predecessor-version":[{"id":63671,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63670\/revisions\/63671"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=63670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=63670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=63670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}