https://www.taxtmi.com/caselaws?id=21821 Annual special incentive bonus and monthly incentive bonus paid under the agreements were treated as production-linked incentive wages, not profit-sharing bonus under the Payment of Bonus Act, 1965. Because the payments depended on invoiced despatches and productivity indices, their real character was linked to production rather than company profits, and Section 31A was inapplicable since the amounts were paid in addition to, not in lieu of, statutory bonus. Mere description as bonus did not change that substance. The payments were therefore outside the statutory bonus scheme and were allowable as deductions under the Income-tax Act, 1961. en-us Tue, 05 Feb 1991 00:00:00 +0530 Tue, 01 Dec 2009 16:35:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21821 Annual special incentive bonus and monthly incentive bonus paid under the agreements were treated as production-linked incentive wages, not profit-sharing bonus under the Payment of Bonus Act, 1965. Because the payments depended on invoiced despatches and productivity indices, their real character was linked to production rather than company profits, and Section 31A was inapplicable since the amounts were paid in addition to, not in lieu of, statutory bonus. Mere description as bonus did not change that substance. The payments were therefore outside the statutory bonus scheme and were allowable as deductions under the Income-tax Act, 1961. Case-Laws Income Tax Tue, 05 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21821