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1961 (11) TMI 71 - HC - Income TaxExtract: ......., the payment of the bonus made on the foot of the award is an allowable item for the assessment year in question. The payment voluntarily made towards the bonus for the year 1950 did not become an accrued liability in the year of account and was not deductible from the profits of that year. In the circumstances, there will be no order as to costs.
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