https://www.taxtmi.com/caselaws?id=55547 The Tribunal ruled in favor of the assessee, allowing both appeals and deleting the disallowances made by the Assessing Officer. The Tribunal held that the excess perquisite provided to the Managing Director was justified considering business needs and benefits. It also allowed a higher deduction under s. 80-I based on profits derived from an industrial undertaking. Additionally, the Tribunal permitted the bonus payment exceeding the maximum under the Payment of Bonus Act, considering it a business expenditure for maintaining relations and preventing worker strikes. en-us Thu, 27 Mar 1997 00:00:00 +0530 Sun, 06 Feb 2011 03:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55547 The Tribunal ruled in favor of the assessee, allowing both appeals and deleting the disallowances made by the Assessing Officer. The Tribunal held that the excess perquisite provided to the Managing Director was justified considering business needs and benefits. It also allowed a higher deduction under s. 80-I based on profits derived from an industrial undertaking. Additionally, the Tribunal permitted the bonus payment exceeding the maximum under the Payment of Bonus Act, considering it a business expenditure for maintaining relations and preventing worker strikes. Case-Laws Income Tax Thu, 27 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55547