https://www.taxtmi.com/caselaws?id=9747 The High Court held that the incentive bonus paid to a Development Officer of Life Insurance Corporation of India is taxable under the head 'Salary,' rejecting the assessee's claim for deduction of related expenditure. Additionally, the court ruled that the incentive bonus earned by Development Officers of LIC should not be classified as business income, and the expenditure incurred in earning the bonus is not an allowable deduction. The judgment favored the Revenue in both issues, denying the allowance of the claimed expenditure. en-us Tue, 15 Mar 2005 00:00:00 +0530 Tue, 30 Jun 2009 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9747 The High Court held that the incentive bonus paid to a Development Officer of Life Insurance Corporation of India is taxable under the head 'Salary,' rejecting the assessee's claim for deduction of related expenditure. Additionally, the court ruled that the incentive bonus earned by Development Officers of LIC should not be classified as business income, and the expenditure incurred in earning the bonus is not an allowable deduction. The judgment favored the Revenue in both issues, denying the allowance of the claimed expenditure. Case-Laws Income Tax Tue, 15 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9747