Bombay High Court Allows Deduction for Record Production Bonus and Other Expenditures in Income Tax Reference. Payment of record production bonus not hit by section 36(1)(ii) as it was not paid out of profits but as an incentive for extra labour.
4 Jul 2005This is an income tax reference at the instance of the Revenue (Commissioner of Income Tax) against the assessee, M/s. Tata Iron & Steel Company Limit...
