https://www.taxtmi.com/caselaws?id=19310 The court ruled against the assessees in favor of the Revenue, determining that "incentive bonus" is taxable under the head "Salary" as per section 17 of the Income-tax Act, 1961. It clarified that allowable deductions for Development Officers of the Life Insurance Corporation are restricted to those specified under section 16. The court held that the claimed expenditure did not meet the criteria for deductions under section 10(14) due to the absence of a notification by the Central Government specifying allowable expenses. The assessees were denied section 10(14) deductions in the absence of such notification. en-us Wed, 08 Mar 1995 00:00:00 +0530 Thu, 05 Nov 2009 13:11:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19310 The court ruled against the assessees in favor of the Revenue, determining that "incentive bonus" is taxable under the head "Salary" as per section 17 of the Income-tax Act, 1961. It clarified that allowable deductions for Development Officers of the Life Insurance Corporation are restricted to those specified under section 16. The court held that the claimed expenditure did not meet the criteria for deductions under section 10(14) due to the absence of a notification by the Central Government specifying allowable expenses. The assessees were denied section 10(14) deductions in the absence of such notification. Case-Laws Income Tax Wed, 08 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19310