https://www.taxtmi.com/caselaws?id=16404 The High Court upheld the Tribunal's decision, ruling in favor of the assessee in a case concerning the disallowance of excess bonus paid to employees under section 36(1)(ii) of the Income-tax Act, 1961. The Court emphasized that customary and reasonable bonus payments should not be restricted by statutory limits, citing relevant case law. The bonus payment in question was deemed customary and reasonable, aligning with the assessee's past practices, leading to the allowance of the excess bonus as a deduction and dismissing the Department's appeal. en-us Wed, 06 Nov 1996 00:00:00 +0530 Mon, 07 Sep 2009 15:25:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16404 The High Court upheld the Tribunal's decision, ruling in favor of the assessee in a case concerning the disallowance of excess bonus paid to employees under section 36(1)(ii) of the Income-tax Act, 1961. The Court emphasized that customary and reasonable bonus payments should not be restricted by statutory limits, citing relevant case law. The bonus payment in question was deemed customary and reasonable, aligning with the assessee's past practices, leading to the allowance of the excess bonus as a deduction and dismissing the Department's appeal. Case-Laws Income Tax Wed, 06 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16404