Law:

Section:

Section 16(i) of Income-tax Act, 1961 - Salaries - Standard deduction - Assessment year 1989-90 - Whether incentive bonus received by assessee, Development Officer, is assessable under head 'Salary' and deduction against same is only allowable under section 16(i) and no separate deduction on account of expenditure incurred for earning that amount would be permissible - Held, yes Note: The case was decided in favour of revenue CASE REFERRED TO B.M. Parmar, Development Officer, Life Insurance Corporation of India v. CIT [1999] 235 ITR 679 (Punj. & Har.). D.S. Patwalia for the Applicant. JUDGMENT N.K. Sud, J.-At the instance of the Revenue, the Income-tax Appellate Tribunal, Chandigarh Bench, Chandigarh (for short "the Tribunal"), has referred the following question of law arising out of its order dated October 28, 1992, relating to the assessment year 1989-90 for the opinion of this court : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in allowing deduction amounting to Rs. 18,000 from incentive bonus received by the assessee?" The assessee is an individual and is a Development Officer in the Life Insurance Corporation of India. He received incentive bonus from the Corporation against which he claims deduction of Rs. 18,000 on the ground that he had to incur expenses for earning that amount. This claim was disallowed by the…

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