1998 PLP 3042 (PTD)
COMMISSIONER OF INCOME-TAX Versus Smt. SHASHI MAHAJAN
| Citation | 1998 PLP 3042 (PTD) |
| Forum / Court | 222 I T R 455 |
| Bench Members | M. Katju and Dr. B. S. Chauhan, JJ |
| Parties | COMMISSIONER OF INCOME-TAX Versus Smt. SHASHI MAHAJAN |
| Primary Law | Income-tax |
Q1: What are the key laws and sections cited in 1998 PLP 3042 (PTD)?
This judgment primarily cites: Income-tax as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 1998 PLP 3042 (PTD)?
The case was heard and decided by the 222 I T R 455 bench comprising: M. Katju and Dr. B. S. Chauhan, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 1998 PLP 3042 (PTD) (COMMISSIONER OF INCOME-TAX Versus Smt. SHASHI MAHAJAN). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Headnotes / Summary
Incentive bonus
Whether assessee, a salaried employee, entitled to deduction at 40 per cent. on incentive bonus received from L.I.C. under S.10(14)
Is question of, law to be referred
Indian Income Tax Act, 1961, Ss.10(14) & 256(2). The question, whether the Tribunal was justified 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, was a question of law.
Judgment & Decree
Income-tax Appeal No.228 of 1995, decided on 8th April, 1996.
Incentive bonus
Whether assessee, a salaried employee, entitled to deduction at 40 per cent. on incentive bonus received from L.I.C. under S.10(14)
Is question of, law to be referred
Indian Income Tax Act, 1961, Ss.10(14) & 256(2). The question, whether the Tribunal was justified 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, was a question of law. This is an income-tax application filed under section 256(2) of the Income Tax Act, 1961, praying for reference of the following question for our opinion: "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified 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?" A similar question has been called in I.T.A. No. 135 of 1994
(CIT v. S.C. Sarin, Development Officer, Agra, decided on August 14, 1995). Hence, we direct the Tribunal to draw up a statement of the case and refer the question for our opinion. M.B.A./1561/FC Matter remanded.