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TMI Blog2003 (5) TMI 24X X X X Extracts X X X X X X X X Extracts X X X X ..... yance allowance as incurred by him – Held that assessee was entitled to any deduction as per actual expenditure incurred out of the incentive bonus paid to him by the employer, namely, LIC X X X X Extracts X X X X X X X X Extracts X X X X ..... poration of India. For the assessment year 1994-95, he was given certain benefits with regard to the conveyance allowance and additional conveyance allowance. That apart there was also a claim with regard to the benefit of a sum towards incentive bonus. The Assessing Officer finally allowed the deduction of the incentive bonus on the basis of the actual expenditure. The adjustment made by the Asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent for any assessment year. Thus, even under the provision, it is necessary that the Assessing Officer should have reason to believe that any income chargeable to tax has escaped assessment. In this case, the Assessing Officer had allowed the deduction of Rs. 27,539 for earning incentive bonus. In the case of Shri S.N. Mishra, the Income-tax Appellate Tribunal, Jabalpur Bench, has come to the con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd additional conveyance allowance as incurred by him. As far as expenditure relating to incentive bonus is concerned this court in CIT v. A.K. Ghosh [2003] 263 ITR 536-I.T.A. No. 19 of 1999 and other connected appeals has held that deduction on that score is impermissible. In view of this we are of the considered opinion that the order of the Tribunal is bound to be set aside and is accordingly ..... X X X X Extracts X X X X X X X X Extracts X X X X
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