Incentive Bonus to workers as reward of good attendance & efficiency allowable

CIT Vs M/S D.S.M. Agro Products Ltd. (Allahabad High Court) Where incentive bonus has been paid as a reward of good attendance and efficiency to the workers, it would be deductible under section 37 of the Act and therefore the tribunal has not erred in allowing deduction in respect of the incentive bonus in the present case also. FULL TEXT OF THE HIGH COURT JUDGMENT / ORDER IS AS FOLLOWS:- Heard Sri Gaurav Mahajan learned counsel for the department and Sri Arnab Banerji learned counsel for the assessee. This is an appeal under section 260A of the Income Tax Act, 1961 filed by the department ag...