1998 PLP 762 (PTD)
COMMISSIONER OF INCOME-TAX Versus PRAMOD KUMAR JAIN
| Citation | 1998 PLP 762 (PTD) |
| Forum / Court | 221 I T R 193 |
| Bench Members | Om Prakash and M. C. Agarwal, JJ |
| Parties | COMMISSIONER OF INCOME-TAX Versus PRAMOD KUMAR JAIN |
| Primary Law | Income-tax |
Q1: What are the key laws and sections cited in 1998 PLP 762 (PTD)?
This judgment primarily cites: Income-tax as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 1998 PLP 762 (PTD)?
The case was heard and decided by the 221 I T R 193 bench comprising: Om Prakash and M. C. Agarwal, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 1998 PLP 762 (PTD) (COMMISSIONER OF INCOME-TAX Versus PRAMOD KUMAR JAIN). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Headnotes / Summary
Assessee a salaried employee of L. I. C.
Whether assessee entitled to 50 per cent deduction on his incentive bonus
Is question of law to be referred
Indian Income Tax Act, 1961, S.256(2). Held, that whether the Income-tax Appellate Tribunal was justified in law in sustaining the order of the first Appellate Authority that the assessee, a salaried employee of the L.I.C., was entitled to deduction of 50 per cent on the incentive bonus received from the employer was a question of law to be referred.
Judgment & Decree
Assessee a salaried employee of L. I. C.
Whether assessee entitled to 50 per cent deduction on his incentive bonus
Is question of law to be referred
Indian Income Tax Act, 1961, S.256(2). Held, that whether the Income-tax Appellate Tribunal was justified in law in sustaining the order of the first Appellate Authority that the assessee, a salaried employee of the L.I.C., was entitled to deduction of 50 per cent on the incentive bonus received from the employer was a question of law to be referred. The Revenue has made this application under section 256(2) of the Income Tax Act, 1961, requiring us to direct the Income-tax Appellate Tribunal to refer the following two questions for an opinion of this Court: "(1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in law in sustaining the order of the first appellate authority that the assessee, a salaried employee of the L.I.C., was entitled to deduction at 50 per cent. on the incentive bonus received from his employer? (2) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was just4lied in law in holding that the assessee, a salaried employee of the L.I.C., of India, was entitled to deduction at 40 per cent. under section 10(14) of the Income Tax Act, 1961, on the incentive bonus received from his employer?" Inasmuch as only question No. l arises from the Tribunal's order which is a question of law, in our opinion, we direct the Tribunal to draw up a statement of the case and refer the abovementioned question No .l to this Court for its opinion. The application is, therefore, partly allowed M.B.A./1243/FC Order accordingly.