Amounts credited to the bonus reserve account have been allowed by way of deductions under section 36(1)(ii) of the Income-tax Act, 1961

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....he notice of the Board in which the amounts credited to the bonus reserve account have been allowed by way of deductions under section 36(1)(ii) of the Income-tax Act, 1961 in the assessment year while computing the total income. 2. If an employer maintains his books on the mercantile system of accounting, he is entitled to a deduction in respect of the bonus in the year in which he admits the ....