https://www.taxtmi.com/caselaws?id=60554 The proviso inserted in section 36(1)(ii) applied to the assessment year 1976-77, so the minimum bonus payable under section 10 of the Payment of Bonus Act was deductible. For the assessment year 1977-78, the bonus disallowance could not be finally settled because the allocable surplus required fresh verification of the assessee's computation. In computing disallowance under section 40(c) read with section 40A(5), commission on profits formed part of remuneration, but sitting fees were not a perquisite; the disallowance was therefore confined to the statutory ceiling and reduced to the excess amount. en-us Mon, 16 Jul 1984 00:00:00 +0530 Wed, 05 Jan 2011 18:30:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60554 The proviso inserted in section 36(1)(ii) applied to the assessment year 1976-77, so the minimum bonus payable under section 10 of the Payment of Bonus Act was deductible. For the assessment year 1977-78, the bonus disallowance could not be finally settled because the allocable surplus required fresh verification of the assessee's computation. In computing disallowance under section 40(c) read with section 40A(5), commission on profits formed part of remuneration, but sitting fees were not a perquisite; the disallowance was therefore confined to the statutory ceiling and reduced to the excess amount. Case-Laws Income Tax Mon, 16 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60554