1970 (8) TMI 2

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.... J.-This is an appeal by certificate from a judgment of the Madras High Court answering the following question which had been referred to it under section 66(1) of the Indian Income-tax Act, 1922, hereinafter called the "Act", in the affirmative and against the assessee. " Whether, on the facts and in the circumstances of the case, the sum of Rs. 54,479 is assessable in the year 1957-58 under t....

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....cluded a sum of Rs. 71,949 representing the annual bonus payable to the employees. This amount had actually not been paid but had been shown on the debit side. The assessee ran into financial difficulties and the bonus remained unpaid for some years. In the accounting year relevant to the assessment year 1957-58, with which we are now concerned a sum of Rs. 17,470 was paid to the employees as bonu....

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....the bonus too in his estimate. Actually, in the manner the estimate has been made, it would appear that the book position had been given the go-by. Unless the department is able to identify any particular item of expense as having been already allowed as a deduction in an earlier assessment conclusively, section 10(2A) is not available for recoupment. This contention too is accordingly accepted.":....

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....ce for deduction has been made in the assessment of any year in respect of any loss, expenditure or trading liability incurred by the assessee and, subsequently, during any previous year the assessee receives any amount in respect of such loss or expenditure or has obtained some benefit in respect of such trading liability by way of remission or cessation thereof in which event the amount received....