https://www.taxtmi.com/caselaws?id=23973 Bonus liability under an agreement with workmen accrued only when the agreement was executed, and the deduction was therefore claimable in the previous year relevant to that accrual. The transfer of the business to another concern did not change the assessee's continued existence for tax purposes or shift the year in which the liability arose. Because bonus is directly connected with the carrying on of business, the legal question was answered in favour of the assessee and against the Revenue, and the request for reference was dismissed. en-us Tue, 25 Jul 1989 00:00:00 +0530 Fri, 15 Jan 2010 15:24:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23973 Bonus liability under an agreement with workmen accrued only when the agreement was executed, and the deduction was therefore claimable in the previous year relevant to that accrual. The transfer of the business to another concern did not change the assessee's continued existence for tax purposes or shift the year in which the liability arose. Because bonus is directly connected with the carrying on of business, the legal question was answered in favour of the assessee and against the Revenue, and the request for reference was dismissed. Case-Laws Income Tax Tue, 25 Jul 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23973