https://www.taxtmi.com/caselaws?id=26121 Statutory bonus liability accrued in the accounting year to which it related and remained deductible in computing business income even though the amount was settled after the year-end; later quantification and the absence of a book entry did not postpone deduction. For deduction under section 80-I, the special deduction had to be computed only after first setting off carried forward unabsorbed development rebate, following the later Supreme Court approach approving the Cambay Electric line and rejecting the contrary Cloth Traders view. The reference was answered partly for the assessee and partly for the Revenue. en-us Tue, 14 Jan 1986 00:00:00 +0530 Wed, 03 Feb 2010 10:07:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26121 Statutory bonus liability accrued in the accounting year to which it related and remained deductible in computing business income even though the amount was settled after the year-end; later quantification and the absence of a book entry did not postpone deduction. For deduction under section 80-I, the special deduction had to be computed only after first setting off carried forward unabsorbed development rebate, following the later Supreme Court approach approving the Cambay Electric line and rejecting the contrary Cloth Traders view. The reference was answered partly for the assessee and partly for the Revenue. Case-Laws Income Tax Tue, 14 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26121