2005 (2) TMI 37

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..... to Rs. 18,000 from incentive bonus received by the assessee?" - held that the incentive bonus received by a Development Officer is assessable under the head "Salary" and deduction against the same is only allowable under section 16(i) of the Income-tax Act, 1961, and no separate deduction on account of expenditure is permissible - Tribunal was not justified in allowing the deduction of Rs. 18,000, .....

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..... received by the assessee?" The assessee is an individual and is a Development Officer in the Life Insurance Corporation of India. He received incentive bonus from the Corporation against which he claims deduction of Rs. 18,000 on the ground that he had to incur expenses for earning that amount. This claim was disallowed by the Assessing Officer on the ground that incentive bonus was part of the .....

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