TMI Blog1992 (2) TMI 76X X X X Extracts X X X X X X X X Extracts X X X X ..... ellate Tribunal, Cuttack Bench, Cuttack (in short "the Tribunal") : "Whether, in the facts and on the circumstances of the case, the Income-tax Appellate Tribunal was justified in law in allowing the assessee's claim of expenditure to the extent of 40% of the incentive bonus received and included in the salary income ?" The assessee is an officer of the Life Insurance Corporation of India. He ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e, no expenses were to be allowed in respect thereof and that only standard deduction under section 16(1) of the Act was to be allowed. In appeal by the assessee, the Appellate Assistant Commissioner of Incometax set aside the conclusion and held that the incentive bonus was earned by the assessee by performance of field duties and, therefore, could not be treated as part of his salary. It was als ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sel for the Revenue states that, in view of the categorical conclusion and finding of the Tribunal that the incentive bonus was nothing but part and parcel of the salary of the assessee, the further conclusion that expenses are to be allowed is a contradiction in terms. The assessee's counsel, however, supports the conclusions of the Tribunal. We are in agreement with the submissions of learned ..... X X X X Extracts X X X X X X X X Extracts X X X X
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