The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the customary bonus cannot be treated as par with the bonus paid under the Bonus Act and therefore, not attract the provisions of section 36(1)(ii) and Section 43B(C) of the Income Tax Act. The assessee claimed that the outstanding bonus was a customary bonus […]
The post Customary Bonus not eligible for Deduction u/s 36(1)(ii): ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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