No Disallowance on Bonus Paid Before Return Due Date: ITAT Kolkata

DCIT Vs Medica Hospitals Pvt Ltd (ITAT Kolkata) Introduction: The Income Tax Appellate Tribunal (ITAT) in Kolkata has rendered a significant decision in the case of DCIT Vs Medica Hospitals Pvt Ltd, for the assessment year 2018-19. The Tribunal delved into the issues concerning the deletion of addition made by the Assessing Officer on account of outstanding dues under Section 43B and 40A(7) of the Act. The decision revolves around the timeliness of payment of bonus outstanding, a matter pertinent to many businesses. Analysis: 1. Background: The AO made disallowances on account of bonus outstan...