https://www.taxtmi.com/caselaws?id=16354 Incentive bonus paid under an industrial settlement, though above the statutory bonus limit, was treated as deductible business expenditure under section 37 and not disallowed by section 36(1)(ii). Subsidy received for setting up or acquiring assets was held not to reduce the actual cost of those assets for depreciation and investment allowance. Guarantee commission paid to a bank for purchasing a capital asset was also treated as allowable business expenditure. All three issues were decided in favour of the assessee and against the Revenue. en-us Wed, 05 Mar 1997 00:00:00 +0530 Mon, 07 Sep 2009 12:09:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16354 Incentive bonus paid under an industrial settlement, though above the statutory bonus limit, was treated as deductible business expenditure under section 37 and not disallowed by section 36(1)(ii). Subsidy received for setting up or acquiring assets was held not to reduce the actual cost of those assets for depreciation and investment allowance. Guarantee commission paid to a bank for purchasing a capital asset was also treated as allowable business expenditure. All three issues were decided in favour of the assessee and against the Revenue. Case-Laws Income Tax Wed, 05 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16354