Transitional tax credit for eligible dealers survives incorrect form entries, while previously available eligibility objections cannot be raised on ap...
Statutory bonus paid to non-shareholder workers is deductible under section 36(1)(ii) when it would not otherwise be payable to them as profits or dividend. The restriction targets profit distributions to shareholders disguised as remuneration. Statutory minimum bonus based on wages is an obligation independent of any decision to distribute profits. Bonus sheets and books of account established payment, and no material showed that the recipients were shareholders, directors or entitled to dividends. Disclosure in clause 20(a) of Form No. 3CD alone does not establish payment in lieu of dividend.
Statutory bonus paid to non-shareholder workers is deductible under section 36(1)(ii) when it would not otherwise be payable to them as profits or dividend. The restriction targets profit distributions to shareholders disguised as remuneration. Statutory minimum bonus based on wages is an obligation independent of any decision to distribute profits. Bonus sheets and books of account established payment, and no material showed that the recipients were shareholders, directors or entitled to dividends. Disclosure in clause 20(a) of Form No. 3CD alone does not establish payment in lieu of dividend.
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