https://www.taxtmi.com/caselaws?id=15722 Incentive payments made under a workers' settlement, over and above statutory bonus, were treated as deductible business expenditure when they were agreed for better performance, smooth working of the mills and to avoid strike action or business disruption. Because the amount was not bonus, section 36(1)(ii) did not apply, and deductibility was examined under section 37 of the Income-tax Act, 1961. On those facts, the payment was regarded as laid out wholly and exclusively for business purposes and allowable as a commercial-expediency expense. en-us Tue, 04 Mar 1997 00:00:00 +0530 Thu, 27 Aug 2009 13:02:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15722 Incentive payments made under a workers' settlement, over and above statutory bonus, were treated as deductible business expenditure when they were agreed for better performance, smooth working of the mills and to avoid strike action or business disruption. Because the amount was not bonus, section 36(1)(ii) did not apply, and deductibility was examined under section 37 of the Income-tax Act, 1961. On those facts, the payment was regarded as laid out wholly and exclusively for business purposes and allowable as a commercial-expediency expense. Case-Laws Income Tax Tue, 04 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15722