2011 (7) TMI 1372

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..... Dr. O.K. Narayanan, This appeal is filed by the Revenue. The relevant assessment year is 2004-05. This appeal is directed against the order of the Commissioner of Income-tax (Appeals)-V, at Chennai dated 27.1.2011. The appeal arises out of the assessment completed under sec.143(3) of the Income-tax Act, 1961. 2. The assessee was subjected to MAT assessment under sec.115JB. The assessee .....

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..... in deleting ₹ 1,00,52,647/- being provision for bonus for the purpose of computation of book profit under sec.115JB. 4. We heard both sides in detail and considered the matter. 5. We find that the provision made by the assessee towards bonus was not an unascertained liability. The assessee was bound to pay bonus to its employees and in fact the bonus was actually paid by the assessee c .....

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