https://www.taxtmi.com/caselaws?id=23587 The High Court of Kerala directed the Tribunal to reevaluate the deductibility of bonus paid to employees by an assessee for the assessment year 1976-77. The court emphasized the need for the bonus amount to be reasonable and based on factors such as employee pay, business profits, and industry practices. It criticized the Tribunal for not fully considering the legal guidelines in determining the nature of the bonus payment and instructed a reassessment in line with the court's interpretation and previous decisions. The matter was referred back to the Income-tax Appellate Tribunal for further action. en-us Mon, 04 Dec 1989 00:00:00 +0530 Tue, 22 Dec 2009 13:22:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23587 The High Court of Kerala directed the Tribunal to reevaluate the deductibility of bonus paid to employees by an assessee for the assessment year 1976-77. The court emphasized the need for the bonus amount to be reasonable and based on factors such as employee pay, business profits, and industry practices. It criticized the Tribunal for not fully considering the legal guidelines in determining the nature of the bonus payment and instructed a reassessment in line with the court's interpretation and previous decisions. The matter was referred back to the Income-tax Appellate Tribunal for further action. Case-Laws Income Tax Mon, 04 Dec 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23587