https://www.taxtmi.com/caselaws?id=202729 The court held that the excess bonus paid, beyond the permissible limit under the Payment of Bonus Act, was not admissible under section 36(1)(ii) of the Income-tax Act, 1961, due to the business's incurred loss. The appeal was dismissed, ruling that such expenditure could not be claimed under section 37 as it fell within section 36's purview. The judgment emphasized adherence to statutory provisions and case law interpretations in determining the deductibility of bonus payments, distinguishing between sections 36 and 37 of the Income-tax Act, 1961 concerning business expenditures. en-us Wed, 18 Aug 2010 00:00:00 +0530 Mon, 24 Dec 2012 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202729 The court held that the excess bonus paid, beyond the permissible limit under the Payment of Bonus Act, was not admissible under section 36(1)(ii) of the Income-tax Act, 1961, due to the business's incurred loss. The appeal was dismissed, ruling that such expenditure could not be claimed under section 37 as it fell within section 36's purview. The judgment emphasized adherence to statutory provisions and case law interpretations in determining the deductibility of bonus payments, distinguishing between sections 36 and 37 of the Income-tax Act, 1961 concerning business expenditures. Case-Laws Income Tax Wed, 18 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202729