1998 (12) TMI 71 - HC - Income Tax

Summary

The High Court of Punjab and Haryana addressed two questions of law regarding deduction of incentive bonus and additional conveyance allowance for the assessment year 1989-90.

1. The deduction of incentive bonus at 40% was disallowed as the assessee did not actually incur expenses to that extent, following a previous judgment in favor of the Revenue.

2. The deduction of additional conveyance allowance was allowed at Rs. 30,000, following the correct interpretation of section 10(14) of the Income-tax Act. Both questions were answered in favor of the Revenue.