what is required to be apportioned in case of sale of bonus shares/right shares/rights, etc., is the original cost of acquisition of shares ... which it has been provided that the cost of right renunciation of bonus should be the actual sum paid by the assessee towards acquisition
liabilities for wages for damaged bidies as well as on account of bonus of Rs. 8,08,023 and Rs. 86,30,975 respectively ... debited Rs. 94,38,998 as accrued liability towards payment of bonus of bidi workers and also towards half wages for damaged bidies
account of provision made for bonus (assessment year wise). The Assessing
Officer admittedly treated the same as a contingent liability only. We notice
that ... added
back an amount of Rs. 13,72,726/- as Provision for Bonus. Relevant
portions of the Assessing Officer's order has been reproduced
expenses at the rate of 40 per cent, of the incentive bonus was wrongly allowed in the original assessments. In the reassessments for these years ... said claim for expenses
calculated at 40 per cent, of the incentive bonus. In the assessment for the assessment year 1988-89 made under Section
extra business are compensated by LIC by giving him incentive new business bonus which is worked out on certain prescribed criteria. According ... Development Officers order, 1978, the incentive bonus is not considered to be part of annual remuneration as will be clear from the following extracts
assessment years 1982-83 and 1983-84 relates to disallowance of bonus of Rs. 13,000 and Rs. 20,585 confirmed ... ground that the said amount of bonus was paid in excess of the amount payable as per the provisions of payment of Bonus Act . This
directors;
(iii) disallowing Rs. 16,800 being amount of bonus paid to directors;
(iv) disallowing an amount of Rs. 45,000 being amount of bank ... second and third shifts;
(viii) disallowing Rs. 34,360 being incentive bonus paid to the workers and staff;
(ix) disallowing an amount
claim of the appellant for deduction of 50% expenses from incentive bonus as per C.B.D.T. circular.
3. Relevant facts for disposal ... Officer) observed that assessee had received Rs. 1,56,155 as incentive bonus commission from LIC in the year under consideration and the assessee
first ground relates to disallowance of Rs. 21,237 out of bonus payment. The AO found that the aforesaid amount was paid to the workers ... said payment was made over and above the bonus paid of Rs. 69,734. The AO further observed that the disputed payment was in excess
disallowing the claim of expenses
of Rs.2,34,145/- from incentive bonus received from Life Insurance
Corporation of India.
3. Confirming the action ... assessee is Development officer of the LIC of India, Incentive
Bonus if any received by the Development officer, of LIC is treated as part
