https://www.taxtmi.com/caselaws?id=174928 Under the Payment of Bonus Act, carry forward and set on could not arise from an ad hoc bonus settlement unless the statutory computation was actually applied or the settlement provided otherwise. Depreciation for gross profit computation had to be the amount admissible under the Income-tax Act, and the employer bore the burden of proof, though the certificate issue did not disturb the Tribunal's allowance because it was admitted without objection. Bonus paid for a previous accounting year had to be added back, the RBI deposit deduction was upheld on the evidence accepted, and the settled meaning of "working funds" excluded borrowings and similar items. Head office expense allocation required recomputation on the correct statutory basis. en-us Fri, 16 Jan 1976 00:00:00 +0530 Wed, 28 Oct 2015 18:05:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174928 Under the Payment of Bonus Act, carry forward and set on could not arise from an ad hoc bonus settlement unless the statutory computation was actually applied or the settlement provided otherwise. Depreciation for gross profit computation had to be the amount admissible under the Income-tax Act, and the employer bore the burden of proof, though the certificate issue did not disturb the Tribunal's allowance because it was admitted without objection. Bonus paid for a previous accounting year had to be added back, the RBI deposit deduction was upheld on the evidence accepted, and the settled meaning of "working funds" excluded borrowings and similar items. Head office expense allocation required recomputation on the correct statutory basis. Case-Laws Indian Laws Fri, 16 Jan 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174928