https://www.taxtmi.com/caselaws?id=70361 A payment to workmen under an industrial settlement was treated as deductible because it was not profit-sharing bonus and was reasonable under the bonus provision, or alternatively allowable as business expenditure. Amounts advanced to workmen became deductible only when the settlement crystallised the liability. Repairs to rent-free officers' quarters were allowed because they protected business assets and any employee benefit was incidental. The managing director's salary and perquisites were tested under the provision linked to employee remuneration ceilings, and the appellate view applying the higher ceiling was sustained. Extra shift depreciation was to be computed for the undertaking as a whole in accordance with the binding CBDT circular. en-us Sat, 31 Dec 1983 00:00:00 +0530 Fri, 15 Apr 2011 17:32:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70361 A payment to workmen under an industrial settlement was treated as deductible because it was not profit-sharing bonus and was reasonable under the bonus provision, or alternatively allowable as business expenditure. Amounts advanced to workmen became deductible only when the settlement crystallised the liability. Repairs to rent-free officers' quarters were allowed because they protected business assets and any employee benefit was incidental. The managing director's salary and perquisites were tested under the provision linked to employee remuneration ceilings, and the appellate view applying the higher ceiling was sustained. Extra shift depreciation was to be computed for the undertaking as a whole in accordance with the binding CBDT circular. Case-Laws Income Tax Sat, 31 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70361