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1 - 3 of 3 (0.38 seconds)The Payment Of Bonus Act, 1965
Sree Bhagavathi Textiles Ltd. vs Commissioner Of Income-Tax on 11 February, 2000
3. The learned Central Government Standing counsel for taxes appearing for the applicant submits that the Tribunal had not independently considered the question as to whether it is customary for the assessee to pay 20 per cent bonus and that the Tribunal had only made a general observation with regard to the custom and its allowability. He also relied on the decision of this court in Sree Bhagavathi Textiles Ltd. v. CIT (2000) 244 ITR 496 (Ker), and submitted that the Tribunal must be directed to consider the assessee's case in the light of the observations made in the said judgment. We have also heard the learned counsel appearing for the respondent-assessee. He submits that the Tribunal has found that it was customary in the Trade to pay bonus to its employees in excess of the statutory amount, but not exceeding 20 per cent, and therefore, there is no illegality in the order of the Tribunal.
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