2008 (5) TMI 636

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....this reference relevant for the Assessment Year 1982-83 under Section  256(1) of the Income Tax Act, 1961, the following question of  law has been referred for our opinion:-  ?1. Whether, on the facts and in the circumstances of the case, the Income Tax  Appellate Tribunal was right in holding that the assessee had correctly charged  to its Profit and Loss account for t....

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.... should be allowed.  The question as to the year in which a deduction is allowable may be material  when the rate of tax chargeable on the assessee in two different years is  different; but in the case of income of a company, tax is attracted at a  uniform rate, and whether the deduction in respect of bonus was granted in  the assessment year 1952-53 or in the assessment y....