Law: Income Tax Act, 1961

Section: 36,36(1)(ii),37,256

Income tax......Reference Business expenditure Incentive bonus Not admissible under specific provision in S.36(1)(ii) Whether allowable under General Provision in S.37 Question of law Indian Income Tax Act. 1961, Ss.36(1)(ii), 37 & 256. The question whether incentive bonus paid by the assessee is allowable under section 37 of the Income Tax Act, 1961, if it is not admissible under specific section 36(1)(ii) is a question of law. [The Supreme Court, accordingly, directed the Appellate Tribunal to State a case to the High Court on this question]. JUDGMENT SYED SHAH MOHAMMED QUADRI, J. Heard Mr. Altaf Ahmad, the learned Additional Solicitor General appearing for the appellants, and Mr. Rakesh Dwivedi, learned senior counsel appearing for the respondent. Leave is granted. This appeal is directed against the judgment and order of the High Court of Judicature at Allahabad in I.T.A. No.155 of 1997, dated October 15, 1999, taking the view that the following question is not a statable question of law. The question reads as follows: "Whether, on the facts and in the circumstances of the case, the Tribunal was legally justified in holding that the incentive bonus paid…

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