https://www.taxtmi.com/caselaws?id=23909 A statutory bonus set-on amount carried forward under the Payment of Bonus Act is treated as money earmarked for future workmen's bonus and not as funds available for the assessee's business use. Because the assessee is divested of control over the amount under the statutory scheme, it bears the character of an outgoing incurred under legal compulsion and answers the description of expenditure under the Income-tax Act. On that basis, the bonus set-on amount was held deductible and not disallowed merely because it remained in the bonus set-on account. en-us Tue, 04 Apr 1989 00:00:00 +0530 Fri, 15 Jan 2010 11:53:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23909 A statutory bonus set-on amount carried forward under the Payment of Bonus Act is treated as money earmarked for future workmen's bonus and not as funds available for the assessee's business use. Because the assessee is divested of control over the amount under the statutory scheme, it bears the character of an outgoing incurred under legal compulsion and answers the description of expenditure under the Income-tax Act. On that basis, the bonus set-on amount was held deductible and not disallowed merely because it remained in the bonus set-on account. Case-Laws Income Tax Tue, 04 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23909