https://www.taxtmi.com/caselaws?id=16330 The High Court ruled in favor of the assessee in a case concerning the accrual of liability to pay a bonus of Rs. 1,84,575 for the period January 1, 1976, to December 31, 1976. The Court held that the liability to pay the bonus accrued in the previous year relevant to the assessment year 1978-79, based on an agreement made in 1977. Additionally, the Court allowed the deduction of the bonus amount paid in excess of 20% of the salary, citing commercial expediency to maintain labor peace. en-us Wed, 17 Dec 1997 00:00:00 +0530 Mon, 07 Sep 2009 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16330 The High Court ruled in favor of the assessee in a case concerning the accrual of liability to pay a bonus of Rs. 1,84,575 for the period January 1, 1976, to December 31, 1976. The Court held that the liability to pay the bonus accrued in the previous year relevant to the assessment year 1978-79, based on an agreement made in 1977. Additionally, the Court allowed the deduction of the bonus amount paid in excess of 20% of the salary, citing commercial expediency to maintain labor peace. Case-Laws Income Tax Wed, 17 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16330