Bonus paid as CTC to Employees cannot be Disallowed u/s 43B of Income Tax Act: ITAT grants Relief to Renault [Read Order]

The Tribunal contested four different issues and ordered partial allowance of appeal based on the contention made by disallowed expenses and depreciation

By Sneha Sukumaran Mullakkal - On July 16, 2024 9:33 am - 2 mins read

Bonus - CTC - Employees - Disallowed - Income Tax Act - ITAT - Relief - Renault - taxscan

In a ruling that grants relief to Renault Nisan Automotive, the Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that bonuses paid as CTC of employees cannot be disallowed under section 43B of the Income Tax Act,1961. The Tribunal contested four different issues and ordered partial allowance of appeal based…

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