https://www.taxtmi.com/caselaws?id=75288 The case involved a dispute regarding the deduction claim for an incentive bonus received by a development officer from the Life Insurance Corporation. The Assessing Officer treated the bonus as part of the income under the head "Salary," limiting the deduction to standard deduction under section 16(i) of the Income-tax Act. The Tribunal upheld the bonus as assessable under "Income from salary" but allowed a 40% deduction for the expenditure incurred, in line with section 10(14) of the Act. The High Court affirmed the applicability of section 16(i) to restrict deductions for a salaried employee and denied additional deductions beyond the standard deduction. en-us Mon, 27 Jul 2009 00:00:00 +0530 Mon, 05 Apr 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75288 The case involved a dispute regarding the deduction claim for an incentive bonus received by a development officer from the Life Insurance Corporation. The Assessing Officer treated the bonus as part of the income under the head "Salary," limiting the deduction to standard deduction under section 16(i) of the Income-tax Act. The Tribunal upheld the bonus as assessable under "Income from salary" but allowed a 40% deduction for the expenditure incurred, in line with section 10(14) of the Act. The High Court affirmed the applicability of section 16(i) to restrict deductions for a salaried employee and denied additional deductions beyond the standard deduction. Case-Laws Income Tax Mon, 27 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75288