Incentive/ bonus paid to employees before due date of ITR allowed: ITAT Bangalore

Acuity Knowledge Centre (India) Pvt. Ltd Vs DCIT (ITAT Bangalore) Incentive/ bonus paid to employees before due date of return filing allowed as deduction: ITAT Bangalore ITAT Bangalore held that incentive/ bonus paid to employees before due date of filing the return is allowable as deduction under the Income Tax Act. Accordingly, disallowance of expenditure incurred towards incentive payment for executive gain sharing plan not sustained. Facts- The assessee, a Pvt Ltd company, is engaged in the business of providing ITE Services to AE for which it was compensated at cost plus 18% Markup. The...