https://www.taxtmi.com/caselaws?id=35088 The High Court upheld the deduction of bonus payments by the assessee under section 36(1)(ii) of the Income-tax Act, emphasizing the reasonability and necessity of the payments for business purposes. The court considered the consistent bonus payments exceeding statutory limits over ten years as a customary practice, aligning with general business practices. The Tribunal and Commissioner's findings supported the deduction, and the court dismissed the Revenue Department's appeal, citing a Kerala High Court judgment and a Supreme Court case to emphasize the significance of long-standing customary bonus payments. en-us Thu, 11 Dec 2008 00:00:00 +0530 Mon, 21 Dec 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35088 The High Court upheld the deduction of bonus payments by the assessee under section 36(1)(ii) of the Income-tax Act, emphasizing the reasonability and necessity of the payments for business purposes. The court considered the consistent bonus payments exceeding statutory limits over ten years as a customary practice, aligning with general business practices. The Tribunal and Commissioner's findings supported the deduction, and the court dismissed the Revenue Department's appeal, citing a Kerala High Court judgment and a Supreme Court case to emphasize the significance of long-standing customary bonus payments. Case-Laws Income Tax Thu, 11 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35088