TMI Blog2001 (10) TMI 25X X X X Extracts X X X X X X X X Extracts X X X X ..... year? - (ii) Whether, on the facts and in the circumstances of the case, the amounts of Rs.2,60,142 and Rs.5,404 did not constitute an ex gratia payment by the company?" - both the Commissioner of Income-tax (Appeals) and the Tribunal had recorded findings of fact as to how the payment was made by way of additional bonus on the basis of the decisions taken at the board of directors' meeting. It wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... missible revenue expenditure of this year? (ii) Whether, on the facts and in the circumstances of the case, the amounts of Rs.2,60,142 and Rs.5,404 did not constitute an ex gratia payment by the company?" The assessment year involved is 1975-76. The factual position is as follows: The assessee had made payment of Rs.2,60,141 to its employees at 8 per cent. of the salary drawn by the con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ried the matter in appeal. The Tribunal noted that in its board meeting held on December 19, 1977, the true nature and character of the pay ment were recorded and it was described to be payment by way of additional bonus only. Though the employees had claimed payment of bonus at 20 per cent., the board felt it to be not acceptable. But it considered the payment of some additional bonus as a gestur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ngs of fact as to how the payment was made by way of additional bonus on the basis of the decisions taken at the board of directors' meeting. It was also noticed that the payment was made after due sanction and on the basis of the norms prescribed by the Bureau of Public Enterprises. The findings are essentially factual giving rise to no question of law. Reference is accordingly disposed of. - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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