ESOP exp. is an employee cost; ITAT allows deduction for difference between market price and issued

IT : Where in terms of Employees Stock Purchase Scheme (ESOP), assessee company offered shares of its parent company to employees, difference between fair market value of shares of parent company on date of issue of shares and price at which those shares were issued by assessee to its employees was to be regarded as expenditure incurred for business purpose allowable under section 37(1)