INCOME TAX OFFICER Vs. K M PACHIAPPAN

JUDGEMENT

(1.) THESE appeals are filed by the revenue aggrieved by the order of the Income Tax Appellate Tribunal dated 07. 12. 2000, framing the following questions of law :

(2.) WHETHER on the facts and circumstances of the case, the Income Tax Appellate Tribunal is right in not considering that the addition of incentive bonus to the total income is proper or not, in view of the decision of the Madras High Court in the case of CIT v. E. A. Rajendran reported in 235 ITR 514 in which it has been held that no deduction except what has been allowed under section 16, is admissible?

(3.) WE heard the arguments of counsel on either side and perused the materials available on record.