https://www.taxtmi.com/caselaws?id=64201 The Tribunal upheld the CIT(A)'s decision regarding disallowance of bonus payments under Section 36(1)(ii) of the Income Tax Act, stating that these payments were allowable as revenue expenditure. The addition of Rs. 2,41,298 under Section 41(1) was deleted by the CIT(A) and upheld by the Tribunal, as there was no evidence of trading liabilities ceasing to exist. The Tribunal also rejected the Revenue's objection to the reduction of the addition related to scrap sold outside the books, affirming that no further addition was warranted. As a result, ITA No. 5089/84 was allowed in part, while ITA No. 336/85 was dismissed. en-us Fri, 24 Apr 1987 00:00:00 +0530 Sat, 05 Feb 2011 13:24:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64201 The Tribunal upheld the CIT(A)'s decision regarding disallowance of bonus payments under Section 36(1)(ii) of the Income Tax Act, stating that these payments were allowable as revenue expenditure. The addition of Rs. 2,41,298 under Section 41(1) was deleted by the CIT(A) and upheld by the Tribunal, as there was no evidence of trading liabilities ceasing to exist. The Tribunal also rejected the Revenue's objection to the reduction of the addition related to scrap sold outside the books, affirming that no further addition was warranted. As a result, ITA No. 5089/84 was allowed in part, while ITA No. 336/85 was dismissed. Case-Laws Income Tax Fri, 24 Apr 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64201