https://www.taxtmi.com/caselaws?id=13035 Surtax liability was treated as not deductible in computing taxable income, following earlier High Court precedent. The claimed amount set aside as bonus under section 15(1) of the Payment of Bonus Act, 1965 was also held not allowable as business expenditure, relying on decisions of the Madhya Pradesh and Andhra Pradesh High Courts. The operative result is that neither item could be claimed as a deduction, and both issues were answered against the assessee. en-us Thu, 12 Jul 2001 00:00:00 +0530 Tue, 26 May 2009 10:38:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13035 Surtax liability was treated as not deductible in computing taxable income, following earlier High Court precedent. The claimed amount set aside as bonus under section 15(1) of the Payment of Bonus Act, 1965 was also held not allowable as business expenditure, relying on decisions of the Madhya Pradesh and Andhra Pradesh High Courts. The operative result is that neither item could be claimed as a deduction, and both issues were answered against the assessee. Case-Laws Income Tax Thu, 12 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13035