https://www.taxtmi.com/caselaws?id=21644 Ex gratia payments made under a settlement, paid separately from statutory bonus to maintain industrial peace in tea estates, were held not to be profit-sharing bonus in substance. The court construed the memoranda as showing that the amounts were incentive-linked additional wages or emoluments, so section 34 of the Payment of Bonus Act, 1965 was not attracted. On that basis, the payments were allowable business expenditure and deductible under section 37 of the Income-tax Act, 1961. en-us Fri, 22 Mar 1991 00:00:00 +0530 Thu, 26 Nov 2009 12:39:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21644 Ex gratia payments made under a settlement, paid separately from statutory bonus to maintain industrial peace in tea estates, were held not to be profit-sharing bonus in substance. The court construed the memoranda as showing that the amounts were incentive-linked additional wages or emoluments, so section 34 of the Payment of Bonus Act, 1965 was not attracted. On that basis, the payments were allowable business expenditure and deductible under section 37 of the Income-tax Act, 1961. Case-Laws Income Tax Fri, 22 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21644