https://www.taxtmi.com/caselaws?id=70274 Incentive bonus received by a Development Officer of LIC was treated as salary income, but a corresponding deduction was still recognised for expenditure necessarily incurred in earning that amount. Because no accounts were maintained, the expenditure was estimated on a reasonable basis, and 40% of the gross incentive bonus was accepted in similar cases. The allowance was not barred merely because the receipt fell under the head Salary or because standard deduction under section 16(1) was available. The analysis also noted that a High Court ruling relied on by the Revenue concerned only tax deduction at source and did not govern deductibility at the assessment stage, so 60% of the bonus remained includible in salary income. en-us Thu, 10 May 1990 00:00:00 +0530 Fri, 15 Apr 2011 11:34:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70274 Incentive bonus received by a Development Officer of LIC was treated as salary income, but a corresponding deduction was still recognised for expenditure necessarily incurred in earning that amount. Because no accounts were maintained, the expenditure was estimated on a reasonable basis, and 40% of the gross incentive bonus was accepted in similar cases. The allowance was not barred merely because the receipt fell under the head Salary or because standard deduction under section 16(1) was available. The analysis also noted that a High Court ruling relied on by the Revenue concerned only tax deduction at source and did not govern deductibility at the assessment stage, so 60% of the bonus remained includible in salary income. Case-Laws Income Tax Thu, 10 May 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70274