1982 (8) TMI 78 - AT - Income Tax

Summary

The appeal was against the disallowance of part of the bonus claimed by the assessee for the assessment year 1978-79. The bonus claimed was for the current year, calculated at a higher rate, based on an agreement with employees. The disallowance was found to be incorrect as the bonus related to the current year and was within the limits of the Bonus Act. The disallowance was deleted, and the appeal was allowed.