https://www.taxtmi.com/caselaws?id=37322 A provision for incentive bonus was not deductible in computing commercial profits for section 23A purposes where the liability was found not to be bona fide. The assessee had accumulated large bonus provisions over successive years, but the amounts remained unpaid and were later used for income-tax payment. On those facts, the Tribunal's finding that the claimed liability was not genuine was not shown to be perverse, so the provision could not reduce commercial profits. The answer to the reference was therefore against the assessee. en-us Thu, 30 Nov 1978 00:00:00 +0530 Mon, 29 Mar 2010 10:50:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37322 A provision for incentive bonus was not deductible in computing commercial profits for section 23A purposes where the liability was found not to be bona fide. The assessee had accumulated large bonus provisions over successive years, but the amounts remained unpaid and were later used for income-tax payment. On those facts, the Tribunal's finding that the claimed liability was not genuine was not shown to be perverse, so the provision could not reduce commercial profits. The answer to the reference was therefore against the assessee. Case-Laws Income Tax Thu, 30 Nov 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37322