https://www.taxtmi.com/caselaws?id=69404 Statutory damages for delayed provident fund and employees' state insurance remittances were treated as partly compensatory and therefore deductible only to the extent attributable to that element, with allowance confined to the relevant year in which the liability arose and dated orders existed. Bonus paid above the statutory minimum under a binding settlement, together with related ex gratia payment, was accepted as business expenditure on commercial expediency grounds. A mere provision for bonus, not actually paid during the previous year and contrary to the assessee's payment basis, was disallowed for that year and left to the year of actual payment. en-us Fri, 24 Jan 1992 00:00:00 +0530 Wed, 06 Apr 2011 15:50:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69404 Statutory damages for delayed provident fund and employees' state insurance remittances were treated as partly compensatory and therefore deductible only to the extent attributable to that element, with allowance confined to the relevant year in which the liability arose and dated orders existed. Bonus paid above the statutory minimum under a binding settlement, together with related ex gratia payment, was accepted as business expenditure on commercial expediency grounds. A mere provision for bonus, not actually paid during the previous year and contrary to the assessee's payment basis, was disallowed for that year and left to the year of actual payment. Case-Laws Income Tax Fri, 24 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69404