https://www.taxtmi.com/caselaws?id=373916 The Tribunal upheld the CIT(A)'s decision to allow the bonus payment to Shri Suresh Prabhala, emphasizing it was for services rendered and not as a profit or dividend. The Tribunal directed the AO to grant correct TDS credit after verification, following CBDT instructions and relevant case law. The appeal of the Revenue was dismissed, and the appeal of the assessee was allowed, with verification required for the TDS credit. The judgment highlighted the distinction between payments for services and distributions of profits under Section 36(1)(ii) of the Income Tax Act, 1961. en-us Tue, 27 Nov 2018 00:00:00 +0530 Tue, 22 Jan 2019 08:11:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373916 The Tribunal upheld the CIT(A)'s decision to allow the bonus payment to Shri Suresh Prabhala, emphasizing it was for services rendered and not as a profit or dividend. The Tribunal directed the AO to grant correct TDS credit after verification, following CBDT instructions and relevant case law. The appeal of the Revenue was dismissed, and the appeal of the assessee was allowed, with verification required for the TDS credit. The judgment highlighted the distinction between payments for services and distributions of profits under Section 36(1)(ii) of the Income Tax Act, 1961. Case-Laws Income Tax Tue, 27 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373916