1989 (7) TMI 70

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..... a prayer for directing the Tribunal to state the case and refer the following question of law to this court: "Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in allowing the deduction of Rs. 97,287 on account of 'bonus' when such liability was determined under the agreement executed much after the date of taking over of the assessee's business by anot .....

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..... 256(1) for referring the aforesaid question of law. On the Tribunal dismissing the said application, the present petition has been filed. In our opinion, the answer to the aforesaid question is self-evident. It cannot be disputed that the payment of bonus is clearly linked and related to the carrying on of the business. It is not in dispute that on April, 2, 1974, an agreement was entered into b .....

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