https://www.taxtmi.com/caselaws?id=66221 The Tribunal dismissed the appeal, upholding the assessee's claim for deduction of 40% of the incentive bonus towards expenses. It ruled that the Assessing Officer exceeded jurisdiction by making a prima facie adjustment under section 143(1)(a) to disallow the deduction. The Tribunal emphasized the debatable nature of the issue and held that such matters should be addressed through regular assessment procedures, not prima facie adjustments. The decision affirmed that the AO's adjustment was unwarranted, leading to the dismissal of the revenue's appeal. en-us Fri, 20 Dec 1996 00:00:00 +0530 Tue, 22 Feb 2011 15:34:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66221 The Tribunal dismissed the appeal, upholding the assessee's claim for deduction of 40% of the incentive bonus towards expenses. It ruled that the Assessing Officer exceeded jurisdiction by making a prima facie adjustment under section 143(1)(a) to disallow the deduction. The Tribunal emphasized the debatable nature of the issue and held that such matters should be addressed through regular assessment procedures, not prima facie adjustments. The decision affirmed that the AO's adjustment was unwarranted, leading to the dismissal of the revenue's appeal. Case-Laws Income Tax Fri, 20 Dec 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66221