Ex-gratia Bonus Paid Over And Above Eligible Bonus To Employees allowable As Business Expenditure of Indian Express: Bombay HC [Read Order]
Indian Express, engaged in newspaper and periodical printing and publishing, faced disallowances by the Assessing Officer (AO)
By Manu Sharma - On March 13, 2024 5:31 pm - 2 mins read
The Bombay High Court recently ruled that ex gratia bonuses provided to employees, exceeding the eligible bonus under the Payment of Bonus Act, qualify as permissible business expenditures. The bench, comprising Justices K. R. Shriram and Neela Gokhale, noted that the earlier decision by the Income Tax Appellate Tribunal ( ITAT ) was legally incorrect…
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