9911796707
TMI Blog1998 (12) TMI 50X X X X Extracts X X X X X X X X Extracts X X X X ..... e out of its order dated August 18, 1992, for the assessment years 1988-89 and 1990-91 for the opinion of this court: Question in R. A. No. 268/Chandi. of 1992 "1. Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is right in law in allowing deduction at 40 per cent. of incentive bonus, when the assessee had not actually incurred expenses to the exte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Income-tax Act, 1961 ?" We will first deal with the only question in R. A. No. 268 for the assessment year 1988-89 and question No. 2 in R. A. No. 269 for the assessment year 1990-91, which is common and pertains to incentive bonus. The said question is concluded by the judgment of this court in Income-tax References Nos. 105 and 106 of 1986, decided on October 27, 1998, in the case of B. M. Pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation's Circular No. MKTG/7B/10(8), dated March 31, 1987. The same was the view taken by the Commissioner of Income-tax (Appeals). On a consideration of the matter, we are of the view that the Income-tax Officer as also the Commissioner of Income-tax (Appeals) correctly interpreted section 10(14) of the Act and had allowed Rs. 30,000 on account of additional conveyance allowance. Thus this quest ..... X X X X Extracts X X X X X X X X Extracts X X X X
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