agricultural income is derived; (i) any sum paid to an employee as bonus or commission for services rendered for deriving agricultural income where such ... profit or dividend, if it had not been paid as bonus or commission: Provided that the deduction in respect of bonus paid to an employee
erred in
disallowing the bonus amounting to Rs.21,636,500
paid by the appellant to its employees (who are also
shareholders of the appellant ... ignored
the fact that the ratio of bonus paid by the appellant is
different from the ratio of the shareholding of the
shareholders employee
other benefits as may be determined by regulations excluding any profit or bonus provided that this shall not prevent an insurer from converting any policy
approved by the Authority and contained in the policy and the reversionary bonuses that have already been attached to the policy: Provided that a policy ... where the paid-up sum insured by a policy, inclusive of attached bonuses, is less than the amount specified by the Authority or takes
under the provident or superannuation fund or other scheme relating to gratuity, bonus or other benefit for the advantage of employees maintained by the establishment
Section 49 in The Insurance Act, 1938
49. Restriction on dividends and bonus
(1) No insurer, , who carries on the business of life insurance ... purpose of declaring or paying any dividend to shareholders or any bonus to policy-holders or of making any payment in service of any debentures
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
whose remuneration or any part thereof takes the form of commission or bonus or a share in the valuation surplus in respect of the life ... whose remuneration or any part thereof takes the form of commission or bonus in respect of the general insurance business of the insurer: Provided that
document solely for the purpose of collection or for realisation of interest, bonus or dividend
this section shall be deemed to prevent an insurer from allocating bonuses to holders of policies of life insurance as a result of a periodical ... either as reversionary additions to the sums insured or as immediate cash bonuses or otherwise
