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2005 (3) TMI 54 - ALLAHABAD HIGH COURTIncentive bonus paid to the Development Officer of LIC - "1. Whether Tribunal was correct in holding that the incentive bonus paid to the Development Officer of Life Insurance Corporation of India is not chargeable to tax under the head 'Salary'? 2. Whether, Tribunal was correct in law in holding that the incentive bonus earned by the Development Officers of LIC is business income and expenditure incurred in earning incentive bonus is an allowable deduction?" - We, answer both the questions referred to us in the negative, i.e., in favour of the Revenue and against the assessee
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