https://www.taxtmi.com/caselaws?id=15051 The court held that the provision for bonus should be allowed as a deduction in computing the total income of the assessee for the assessment year 1973-74. The court emphasized that the provision for bonus was a legitimate deduction necessary for accurately computing the business income of the assessee. Both the Commissioner of Income-tax (Appeals) and the Tribunal correctly determined that the provision for bonus was justified, as it was the last year of the assessee's business before merging with another entity. The assessee was entitled to costs of Rs. 750. en-us Thu, 19 Mar 1998 00:00:00 +0530 Sat, 03 Sep 2011 18:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15051 The court held that the provision for bonus should be allowed as a deduction in computing the total income of the assessee for the assessment year 1973-74. The court emphasized that the provision for bonus was a legitimate deduction necessary for accurately computing the business income of the assessee. Both the Commissioner of Income-tax (Appeals) and the Tribunal correctly determined that the provision for bonus was justified, as it was the last year of the assessee's business before merging with another entity. The assessee was entitled to costs of Rs. 750. Case-Laws Income Tax Thu, 19 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15051