1990 (6) TMI 113

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....ntive bonus and additional conveyance allowance from the Life Insurance Corporation of India. The said income from incentive bonus and additional conveyance allowance has been assessed by the ITO in the A.Ys. 1980-81, 1981-82 and 1982-83 under the head 'income from business and profession' and therefrom the ITO has allowed deduction of 40%, of about 56% and of about 52% on account of business expe....

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....rvations made by him. Aggrieved by the said orders of the Commissioner of Income-tax, the assessee is in appeal. 2. Contention of the learned counsel for the assessee is that income from bonus and additional allowance to a Development Officer in employment of the Insurance Corporation has been treated by the Tribunal in several cases as not includible in income from salary. In support, he place....

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....s of the contract of service the assessee was given incentive bonus by the employer ? 5. I have minutely considered the respective submissions of the parties. To my knowledge till recently there was no pronouncement of any of the High Courts on the point as to whether incentive bonus is part of salary or not. However, now it has been held by the Hon'ble Andhra Pradesh High Court in the case of ....