M/S.SHASUN CHEMICALS AND DRUGS LTD. vs. COMMISSIONER OF INCOME TAX, CHENNAI

The appeals are allowed

7 was mentioned by the assessee that it had paid bonus to its employees to the tune of Rs.96,08,002/- in the said Financial Year and, therefore, it claimed deduction under Section 35(2AB) of the Act. However, invoking the provisions of Section 40A(9) of the Act the said expenditure is disallowed