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2010 (8) TMI 329 - HC - Income TaxPayment of bonus - the bonus in excess of 8.33 per cent. which has been paid there being loss is not admissible under the second proviso to section 36(1)(ii) of the Act of 1961. - allowance of permissible bonus as per the first proviso to section 36(1) of the Act of 1961 has already been allowed to the petitioner. The allowance of the remaining bonus paid in excess, there being loss, was not permissible. Such expenditure cannot be allowed under section 37 being of the nature admissible under section 36 of the Act of 1961.
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