https://www.taxtmi.com/caselaws?id=20886 The Tribunal confirmed the disallowance of a bonus amount as it exceeded the statutory limit and was not covered by any agreement during the relevant accounting year. The Tribunal upheld the disallowance, stating the liability to pay the bonus only arose after the board's decision post the accounting year. Additionally, the Tribunal allowed the Revenue to raise a new ground regarding the bonus, concluding that the liability was not crystallized during the relevant year. The Tribunal's decision was affirmed, answering in favor of the Revenue and against the assessee. en-us Fri, 16 Oct 1992 00:00:00 +0530 Tue, 17 Nov 2009 17:41:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20886 The Tribunal confirmed the disallowance of a bonus amount as it exceeded the statutory limit and was not covered by any agreement during the relevant accounting year. The Tribunal upheld the disallowance, stating the liability to pay the bonus only arose after the board's decision post the accounting year. Additionally, the Tribunal allowed the Revenue to raise a new ground regarding the bonus, concluding that the liability was not crystallized during the relevant year. The Tribunal's decision was affirmed, answering in favor of the Revenue and against the assessee. Case-Laws Income Tax Fri, 16 Oct 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20886