https://www.taxtmi.com/caselaws?id=14269 The High Court held that the incentive bonus received by the employee constituted part of the salary income and was not eligible for further deduction beyond the standard deduction under section 16 of the Income-tax Act. The Court rejected the claim for a 40% deduction from the bonus amount, emphasizing that the bonus was received in the capacity of an employee and not as professional income. The decision favored the Revenue, ruling against the assessee and disposing of the reference application accordingly. en-us Wed, 13 Jun 2001 00:00:00 +0530 Tue, 14 Jul 2009 18:10:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14269 The High Court held that the incentive bonus received by the employee constituted part of the salary income and was not eligible for further deduction beyond the standard deduction under section 16 of the Income-tax Act. The Court rejected the claim for a 40% deduction from the bonus amount, emphasizing that the bonus was received in the capacity of an employee and not as professional income. The decision favored the Revenue, ruling against the assessee and disposing of the reference application accordingly. Case-Laws Income Tax Wed, 13 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14269