https://www.taxtmi.com/caselaws?id=66440 The Tribunal allowed the appeal, set aside the Commissioner's order under section 263 modifying the assessment, and restored the Income Tax Officer's assessment. It held that the incentive bonus received by the assessee should be considered as a special allowance under section 10(14) of the Income-tax Act, allowing for a deduction of proved expenses or reasonable expenditure. The Tribunal emphasized the need to consider expenses incurred for employment purposes and apply the real income principle in determining taxable income. en-us Fri, 17 Feb 1984 00:00:00 +0530 Thu, 24 Feb 2011 16:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66440 The Tribunal allowed the appeal, set aside the Commissioner's order under section 263 modifying the assessment, and restored the Income Tax Officer's assessment. It held that the incentive bonus received by the assessee should be considered as a special allowance under section 10(14) of the Income-tax Act, allowing for a deduction of proved expenses or reasonable expenditure. The Tribunal emphasized the need to consider expenses incurred for employment purposes and apply the real income principle in determining taxable income. Case-Laws Income Tax Fri, 17 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66440