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2018 (11) TMI 470

t allowable under section 10(14) of the Act, since the assessee has assessed under the head “salary” - Held that:- It cannot be disputed that as a Development Officer of LIC, main task is to develop business for the LIC. For that, the DO has to undertake various functions. No details or supporting evidence has been furnished by the assessee before us to support its claim. - Atleast the assessee should have filed a certificate from the LIC for determining expenses possibly to be incurred by him for the purpose of procuring LIC business and earning incentive bonus. No such certificate has been submitted and any details to support its case. Therefore, we remit this issue back to the file of the ld.AO to decide the claim of the assessee in .....

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ved that incentive bonus received by the assessee was neither an allowance nor any reimbursement of expenses. The ld.AO, therefore, sought explanation from the assessee in this regard. Assessee submitted in view of judgment of Hon ble Gujarat High Court in the case of Kiranbhai H. Shelat and others, 235 ITR 635 claim of the assessee was admissible. This explanation of the assessee was not found acceptable to the AO, and held the incentive bonus to be part of salary and to be assessed under the head salary . The AO based his finding as per the certificate issued by the LIC of India and CBDT Circular dated 13.5.2009. The ld.AO disallowed the claim of the assessee and added the same to the total income of the assessee. In appeal before the ld. .....

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lated for considering certain development officers employed with it as Senior Business Associates ( SBAs for short). The SBAs were required to maintain the business at their premises and LIC would reimburse expenditure. We have taken cognizance of such scheme in the case of Nitinbhai T. Bhuptani Vs. ACIT, Cir.4, Rajkot in ITA Nos.13/RJT/2016 and others. Shri Bhuptani was Development Officer. We have taken cognizance of these appeals, and thereafter decided identical issues. The scheme reproduced in the Tribunal s order dated 18.4.2018 reads as under: Similarly During the accounting period there was senior business associates schemes as under. Eligibility Criteria: A Development Officer will be considered eligible to apply as Senior Business .....

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tegory Place of Posting I Cities of Mumbai, Kolkata, Chennai, Delhi & Noida, Faridabad, Ghaziabad, Gurgaon and Navi Mumbai. II Cities with Population exceeding 12 lakhs, except those mentioned in (I) above, any City in the State of Goa and Gandhi nagar. III Other Places. The population figures for the above purpose shall be as per the latest Census Report. Further, the Cities shall also include their Urban Agglomeration. The Classification of Cities for the purpose of payment of benefits shall be as shown below. Category-I Category-II Category-III Kolkata- including Municipal areas comprising city of kolkata (including Behala, Alipur, Cossipur, Tollygunge), Howrah, Barrackpore (including North Barrackpore), Garden Reach Barranagore Sout .....

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aintenance subject to certain minimum number of renewal premium transactions, proposal Deposits transaction, Registration of proposal and submission of E Proposals. Particulars Category-I Category-II Category-Ill Maximum Reimbursement month (Rs.) amount allowed of per 25,000 20,000 15,000 The amount as shown above will be reimbursed subject to certain minimum transaction in a month, which would be as shown below: Particulars 1st Quarter (April to June) 2nd Quarter (July September) to 3rd Quarter (October December) to 4th Quarter ( January to March) Renewal Premium 200 p.m. 250 p.m. 350p.m. 400 p.m. Proposal Deposits 40 p.m. 60 p.m. 70 p.m. 70 p.m. Submission/ Registration of E Proposal 30 p.m. 60 p.m. 60 p.m. 60 p.m. The Senior Business Ass .....

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n the middle of the month, the reimbursement towards Office maintenance shall be allowed from the first of the following month. However, he/she shall be allowed reimbursement towards various transactions. The Senior Business Associate has to continue to maintain the cost ratio at 3% in the subsequent appraisal years. However, Zonal Manger in-charge can waive the cost ratio up to 1% in that appraisal year in which the cost ratio has exceeded by 3%. Such concession will be allowed on 2 occasion after which no reimbursement shall be allowed towards Office maintenance. However the Senior Business Associate will be allowed additional reimbursement for renewal premium/proposal deposit transaction/submission and registration of E proposal. The rei .....

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