Income-tax Act, 1961, even though the allocable surplus under the Payment of Bonus Act was only Rs. 99,278.
2. The assessment year involved ... more than the minimum bonus of 8.33 per cent, as the allocable surplus for the year under consideration was only Rs. 99,278 and, therefore
however, pointed out that the allocable surplus available for the year in question for distribution of bonus as per the Payment of Bonus ... employer has no allocable surplus in the accounting year or the amount of such allocable surplus is only so much that, but for the provisions
where in respect of any accounting year the allocable surplus exceeds the amount of minimum bonus payable, the employer shall be bound ... that where for any accounting year, there is no available surplus or the allocable surplus in respect of that year falls short of the amount
more than the minimum bonus of 8.33 per cent, as the allocable surplus for the year under consideration was only Rs. 99,278 and, therefore ... accordance with the Payment of Bonus Act as the allocable surplus was Rs. 99,278 and in the circumstances, the payment of minimum bonus would
establishments. Moreover, customary bonus does not
require calculation of profits, allocable surplus,
because it is a payment founded on long usage and
justified often
rupees, whichever is higher, whether or not the employer has any allocable surplus in the accounting year and this provision was to operate notwithstanding anything ... provided for in the Act. The Act contemplated the concept of allocable surplus, but if the parties intended to adopt some other formula
employers to pay bonus to their employees out of the allocable surplus, understood in common parlance, as a profit based bonus. This section merely seeks
this year, the assessee had incurred losses and, as such, no allocable surplus was available to the assessee. In view of this, the payment
payment of only the minimum bonus where the
employer has no allocable surplus in the concerned
accounting year. However, inasmuch as the appellant-
companies ... payment of only the minimum bonus where
the employer has no allocable surplus in the concerned
accounting year. However, in as much as the appellant
question of existence of available surplus and its quantum, if any surplus was available. In view of the finding recorded by the Tribunal accepting ... payment of only the minimum bonus where the employer has no allocable surplus in the concerned accounting year. However, in as much as the appellant
