Staff Welfare Expenditure Incurred By Employer As Per SEBI Guidelines Is Revenue Expenditure: Delhi High Court

The Delhi High Court ruled that a valuation report based on "lock-in" shares is not valid for assessing fair market value. The court held that since lock-in shares (restricted shares) cannot be freely traded in the market, their value cannot accurately reflect market dynamics. As a result, the court dismissed the reliance on such valuation reports for tax assessments, ensuring that the market value of assets is determined under more realistic and applicable conditions.