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2008 (12) TMI 204 - HC - Income TaxPayment of Bonus – exceeding statutory limit – general practice – ITAT held that the amount of Rs. 18,73,192 paid by the assessec to its workers over and above the Payment of Bonus Act is in the nature of customary bonus and allowed as deduction u/s 36(1)(ii) – held that - , the assessee had been paying bonus for the last 10 years otherwise in excess of the Bonus Act and this had become a practice and the Commissioner of Income-tax (Appeals) as well as the Tribunal have recorded the finding that such bonus was payable as a general practice followed in similar business or profession. – decision of ITAT upheld
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