case, the income received by the assessee from the LIC as incentive bonus or commission should be taxed under the head 'income from business ... deduction of 40 per cent. from the gross receipt of incentive bonus or commission, as expenditure incurred by the assessee for earning that income
case, the Tribunal was right in disallowing the claim of bonus set on amounting to Rs. 5,11,000 ?
(ii) Whether, on the facts ... assessee under the provisions of section 15 of the Payment of Bonus Act, 1965 (hereinafter referred to as "the Bonus Act "). This
Pathak 's case popularly called as "L.I.C. Bonus case", the matter arose out of writ petitions filed by Class ... Class III and Class IV employees about the payment of bonus. The last of these settlements was arrived at on 24th January
units in Karnool and Bellary Districts also. While the management paid bonus at 20% in 1979-80 and 16% in 1980-81 to the workmen ... said other units, the said bonus was not paid to the workmen of the Wire Division at Bangalore. In this regard, a dispute was raised
Bannurmath
JUDGMENT
R.P. Sethi, C.J.
1. Under the industrial jurisprudence, bonus connotes claim of the workmen due to them beyond strict wages ... ordinarily received by, or strictly due to the recipient is a bonus. It is also termed as wage incentives given to the labourer
objections filed by it on the maintainability of the claim for bonus by respondents Nos. 2 to 16 (workmen). The petitioner has taken a specific ... objections as follows :
"The applicants are not entitled to any bonus as they were dismissed for serious act of misconduct involving moral turpitude, violent
enforcement of their claim for minimum bonus under the
provisions of the Payment of Bonus Act (for short 'the Act'). The
application ... Labour Court had no jurisdiction to entertain an application
for awarding bonus to the employees, under the provisions of Payment
of Bonus Act . The learned
Having not been paid closure compensation, one month's salary and bonus, the 2nd respondent herein filed an application under Section ... month's salary in lieu of notice of Rs. 250/-, bonus at 20% from 1-6-1973 to 1-9-1980 amounting
filed before the Industrial Appellate Tribunal, the Tribunal awarded certain bonus to the workmen.
The decree-holders in execution of the decrees obtained by them ... attached the bonus due to the judgment-debtors. The judgment-debtors objected to the same. They contended that bonus is part of '"wages
Custodian . In that case, the
Supreme Court considered the question whether
bonus shares, dividend and interest accrued on the
pledged shares and debentures were accretions ... opinion the Court rightly came to the
conclusion that bonus share is an accretion. A
bonus share is issued when the company
capitalises its profits
