https://www.taxtmi.com/caselaws?id=279768 The ITAT Delhi allowed the assessee's appeal, determining that the performance incentives were deductible as business expenditure under section 37(1) rather than being disallowed under section 36(1)(ii) as bonuses. This decision was influenced by the interpretation of relevant provisions and the precedent set in the case of Shriram Pistons & Rings Ltd. vs. CIT, emphasizing that such incentives were not profit-dependent and thus fell outside the scope of section 36(1)(ii). en-us Fri, 31 Oct 2014 00:00:00 +0530 Fri, 05 Apr 2019 06:43:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279768 The ITAT Delhi allowed the assessee's appeal, determining that the performance incentives were deductible as business expenditure under section 37(1) rather than being disallowed under section 36(1)(ii) as bonuses. This decision was influenced by the interpretation of relevant provisions and the precedent set in the case of Shriram Pistons & Rings Ltd. vs. CIT, emphasizing that such incentives were not profit-dependent and thus fell outside the scope of section 36(1)(ii). Case-Laws Income Tax Fri, 31 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279768