TaxTMI 
TaxTMI 
2016 (3) TMI 1444
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.... This is assessee's appeal directed against the order passed by learned CIT(A) -I, Lucknow dated 25/09/2014 for the assessment year 2011 - 12. 2. In this appeal, the assessee has raised as raised as many as 9 grounds but the grievances of the assessee are only two. The first grievance is about disallowance of Rs. 58,500/- claimed by the assessee on account of Additional Conveyance Allowance. The ....
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....ally spent and LIC has certified the same as exempt after verifying that it was actually spent in full. Learned D. R. of the Revenue supported the orders of the authorities below. 4. We have considered the rival submissions. We find that the first issue about additional conveyance allowance granted to DO of LIC is covered in favour of the assessee by this tribunal order cited by learned AR of the....
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.....1989, the LIC itself issued a clarification to the effect that the D.O. would be entitled to claim reimbursement to the extent of 30 % of the incentive bonus granted to them and thus, the dispute is confined only to the period prior to 01.04.1989 and after 01.04.1989, only balance of incentive bonus after excluding 30% of incentive bonus will be treated as salary income. In the reply dated 26.08.....
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....red for increase of the business of LIC. Under these facts, by respectfully following this judgment of Hon'ble Apex Court rendered in the case of T. K. Ginarajan vs. CIT (Supra), we hold that to the extent of 30% of incentive bonus which comes to Rs. 921,736/- should be allowed as deduction from Incentive bonus as against deduction of Rs. 12,28,982/- claimed by the assessee on account of expenses ....