Tax & Penalty22 Apr 2026, 04:41 pm
Black Buck: ESOP Disallowances Set Aside, ₹106.59 Cr Impact
AI Summary
Black Buck Ltd received orders from the Income Tax Department on April 20, 2026 (received April 21, 2026) for Assessment Years 2021-22 and 2022-23. The orders, passed by the Deputy Commissioner of Income Tax, give effect to the Commissioner of Income Tax (Appeals) orders, setting aside disallowances related to ESOP expenses. This results in a favorable outcome with no adverse financial impact on the company. The disallowances for ESOP expenses amounted to ₹15,93,74,127 for AY 2021-22 and ₹90,65,37,976 for AY 2022-23.
Key Highlights
- Income Tax Department set aside ESOP expense disallowances for Black Buck.
- ₹15.94 Cr disallowance set aside for AY 2021-22.
- ₹90.65 Cr disallowance set aside for AY 2022-23.
- Orders received April 21, 2026, pertain to Section 37(1) of Income-tax Act.
- The order is favorable with no adverse financial impact on the Company.