appears that from the season
1956-57, the respondent introduced an incentive bonus scheme
in the factory. The scheme continued thereafter from season
to season ... that there may be greater
incentive to labour to produce more than the average. Even
so, when the incentive bonus scheme
amounts of bonus varied with the quantum of
extra work rendered by workmen concerned, such bonus scheme
still remained a genuine incentive Production Bonus Scheme ... bonus
scheme of the company, this court held that this was not a
profit bonus scheme but was a genuine production incentive
bonus scheme
Tribunal took into account an irrelevant factor, namely,
the yield from incentive bonus; (51 no case was made out for
adjustment of the workmen ... connected concern, because, a substantial
ment by way of incentive bonus. But in the case of the
appellant-company, finding the yield from incentive bonus
directing the ITO to allow 40 per cent of the incentive bonus as deduction and include the net amount after such deduction in the salary ... incentive bonus was not akin to the ordinary bonus given under the Payment of Bonus Act . The Tribunal held that the incentive bonus represent additional
from his employer by way of incentive bonus during the previous year relevant to the assessment year 1981-82. In his return filed under ... expenses earning the said incentive bonus. The Income-tax Officer declined to give the deduction claimed on the ground that the incentive bonus
Companies--Slab system--Classification of grades and
fixation of wages--Gratuity--Incentive Bonus Scheme.
HEADNOTE:
The appellant carried on the business of manufacturing and
selling ... dearness allowance, classification of grades and fixation of
wages and the incentive bonus scheme as modified 'by the
company. In appeal against the award
purpose of incentive
bonus and production bonus.
The Appellate Tribunal thought it unnecessary to consider
the question whether these bonuses had been actually taken
into ... incentive wage like bonus related to production. On every
consideration it is therefore abundantly clear that
production bonus and incentive bonus were not within basic
bonus, and (3) the money value of the concessional supply of foodgrains and other articles, but does not include— (i) any bonus other than incentive
legally justified in directing to allow 50 per cent, deduction of incentive bonus received by the assessee from the Life Insurance Corporation of India relying ... assessee received a sum of Rs. 68,206 as incentive bonus from the Life Insurance Corporation and he claimed 40 per cent, deduction
bonus paid or payable was comprehensive annual bonus .The productivity Index Plan indicated that the very basis for payment of the bonus under the settlement ... that under Section 2 (21) of the Payment of Bonus act , any bonus whether incentive, production or attendance bonus has been specifically excluded from
