1998 INSC 0518
                                        SUPREME COURT OF INDIA

                                    Commissioner of Income Tax, Kolhapur

                                                           Vs.

                                               Bhogawati S.S.K. Ltd.

                                         (B Kirpal and M Srinivasan JJ.)

                                                      24.07.1998

                                                       ORDER

1. Leave granted.

2. After going through the records, in our opinion, the High Court should have directed the Tribunal
to state the case, because a question of law did arise in the present case. We accordingly allow this
appeal and direct the Tribunal to state the case and refer the following question of law to the High
Court: "Whether on the facts and in the circumstances of the case and in law, the Tribunal was
justified in holding that the bonus and incentive payment in excess of 20% of salary was allowable
as deduction under Section 36(1)(ii) or under Section 37(1) of the Act."

3. There will be no order as to costs.