https://www.taxtmi.com/caselaws?id=101212 SC allowed the appeal and declared the workmen entitled to a 16% bonus for 1969. The court found that a wholly owned intermediate company, having no assets or business except transferred shares and receiving only dividends, was effectively a device to reduce the employer's gross profits. Those dividends must be included in the employer's gross profits for computing bonus. The appeal was allowed with costs. en-us Mon, 19 Aug 1985 00:00:00 +0530 Thu, 30 Oct 2025 13:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101212 SC allowed the appeal and declared the workmen entitled to a 16% bonus for 1969. The court found that a wholly owned intermediate company, having no assets or business except transferred shares and receiving only dividends, was effectively a device to reduce the employer's gross profits. Those dividends must be included in the employer's gross profits for computing bonus. The appeal was allowed with costs. Case-Laws Companies Law Mon, 19 Aug 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101212