Judgment Search Results Home > Cases Phrase: the payment of bonus amendment act 2007 Page 9 of about 15,245 results (0.339 seconds)

Deputy Commissioner of Vs. Kicha Sugar Co. Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

..... the central board of direct taxes circular is found extracted at page 2322, sampath iyengar's law of income tax, ninth edition, which is as follows : " section 29 of the payment of bonus (amendment) act, 1976, has inserted a new proviso to clause (ii) of sub-section (1) of section 36 of the income-tax act, 1961, and has made an amendment to the existing proviso to the said clause with !effect from 25th september, 1975. ..... section 29 of the payment of bonus (amendment) act, 1976, has inserted a new proviso to section 36(l)(ii), income-tax act. ..... after the amendment introduced from september 25, 1975, the new proviso termed as first proviso and the amended second proviso read as under ; " provided that the deduction in respect of bonus paid to an employee employed in a factory or other establishment to which the provisions of the payment of bonus act, 1965 (21 of 1965), apply shall not exceed the amount of bonus payable under that act. ..... next, he referred to section 10 of the payment of bonus act as amended by act 66 of 1980 which came into effect from august 21, 1980. ..... then he took us through the provisions of the payment of bonus act as amended in 1977. .....

Madurai Coats Ltd. Vs. the Workmen of Madurai Coats Ltd. Represented b ...

Court : Supreme Court of India

Reported in : AIR1976SC449; 1977LabIC1; (1976)IILLJ424SC; (1977)1SCC205; 1976(8)LC791(SC)

..... special provision with respect to payment of bonus linked with production or productivity.notwithstanding anything contained in this act,-(i) where an agreement or a settlement has been entered into by the employees with their employer before the commencement of the payment of bonus (amendment) act, 1976, or(ii) where the employees enter into any agreement or settlement with their employer after such commencement, for payment of an annual bonus linked with production or productivity in lieu of bonus based on profits payable under this act, then, such employees shall be entitled to receive bonus due to them under such ..... agreement or settlement, as the case may be:provided that such .....

Indian Oxygen Ltd. Vs. Workmen

Court : Supreme Court of India

Reported in : AIR1972SC471; [1972(24)FLR184]; (1972)ILLJ627SC; (1972)4SCC578; [1972]2SCR816

..... : (1969)illj785sc parliament enacted the payment of bonus (amendment) act, 1969, (hereinafter to be referred as the amendment act). ..... for the year in question, 1964-65, there was no agreement, as the payment of bonus act, 1965 (hereinafter to be referred as the act) came into force. ..... this court, in the said decision referred to the provisions of the amendment act, and observed that no amendment has been effected to section 6, and that the amendment in section 7 is only to the effect that the principles laid down therein are to be applied not only in respect of section 6(c) but also to other sections of the act. ..... similarly section 3 of the amendment act deleted in section 7 of the act, the opening words 'for the purpose of clause (c) of section 6 any direct tax payable by the employer' and substituted the words 'any direct tax payable by the employer.'28. ..... : (1969)illj785sc that bonus amount should be calculated, after a provision for tax was made and not before, a provision to that effect would have been incorporated by the amendment act. ..... it was further held that the amendment in section 5, has no bearing on the question whether income-tax, to be taken into account in calculation, should be worked out after taking into account the bonus payable under the act or without having regard to it. .....

State Bank's Staff Union (Madras Circle) Vs. Union of India (UOi) and ...

Court : Supreme Court of India

Reported in : AIR2005SC3446; 2005(5)CTC629; [2005(107)FLR737]; JT2005(8)SC315; (2005)IIILLJ854SC; (2005)7SCC584

..... a writ petition filed against this award is pending in the madras high court.all public sector banks including the state bank of india come under the purview of the payment of bonus act, 1965, and the intention is that no bonus other than what is required to be paid under the payment of bonus act, 1965, shall be paid to the employee of the state bank of india or of any other pubic sector bank. ..... customary bonus is one which is paid dehors the bonus paid under the payment of bonus act, 1965 (in short the 'bonus act'). ..... bonus cannot be called deferred wages and even if it is conceded for the sake of argument that the payment of customary bonus was a condition of service, after insertion of section 43a by the amendment act the same has no operation. ..... the said act in clear and unambiguous terms prohibits the grant of bonus to the employees of public sector banks, except in accordance with the bonus act, and also limits such payment only to those eligible under the act.the amended provision operates notwithstanding anything contained in any other law, including the industrial act, and similarly notwithstanding anything contained in any judgment, decree or order of any court or tribunal.23. .....

State Bank Staff Union Madras Circle Rep. by Its General Secretary, V. ...

Court : Chennai

Reported in : (2001)ILLJ846Mad

..... the payment of bonus was discontinued altogether from the second half of the year 1975, after the payment of bonus act was amended by the payment of bonus amendment ordinance act was amended by the payment of bonus amendment ordinance, 1975, by which, the bank was exempted from the purview of the payment of bonus act, 1965. ..... the act does not show that parliament was seeking to exercise appellate powers over the tribunal or this court by enacting the amending act, what this act does, is to prohibit the grant of bonus to the employees of public sector banks except in accordance with the payment of bonus act, and to limit that payment only to those eligible under that act. ..... all public sector banks including the state bank of india come under the purview of the payment of bonus act, 1965, and the intention is that no bonus other than what is required to be paid under the payment of bonus act, 1965, shall be paid to the employee of the state bank of india or of any other public sector bank. ..... the fact that an award had been made under the industrial disputes act, declaring that right in the employees, does not preclude parliament from legislating that no bonus on basis of custom shall be payable to the employees of public sector banks, and that only the bonus payable in accordance with the payment of bonus act shall be payable only to those eligible under that act. .....

Commissioner of Income-tax Vs. Holman Climax Manufacturing Ltd.

Court : Kolkata

Reported in : [1992]196ITR698(Cal)

..... the payment of bonus (amendment) act, 1976 (preceded by an ordinance in 1975) (hereinafter referred to as the '1975 amendment'), has made significant changes in the bonus act ..... section 31a of the payment of bonus act, 1965, stipulates that the provisions of the act will not be applicable to those establishments where the employees enter into an agreement with the employer before the commencement of the 1975 amendment for payment of bonus and also to those who enter into an agreement after commencement of the 1975 amendment for payment of bonus linked to production or ..... the long title of the bonus act was also amended in 1976 and the substituted one runs thus : 'an act to provide for the payment of bonus to persons employed in certain establishments on the basis of profits or on the basis of production or productivity and for matters connected ..... the hearing before us, the learned advocate for the revenue has contended that the assessee is not entitled to the deductions claimed inasmuch as such bonus is not payable under the payment of bonus act, 1965, as amended. ..... after the 1975 amendment, the preamble reads as follows :' an act to provide for the payment of bonus to persons employed in certain establishments on the basis of profit or on the basis of production or productivity and for matters connected therewith ..... before the 1975 amendment, the preamble read thus :' an act to provide for the payment of bonus to persons employed in certain establishments and for matters connected .....

Commissioner of Income Tax Vs. Kerala Spinners Ltd.

Court : Kerala

Reported in : [1990]184ITR383(Ker); (1991)ILLJ257Ker

..... of his service;(b) the profits of the business or profession for the previous year in question; and(c) the general practice in similar business or profession;'. ..... 463):'the long title of the act as substituted by the amending act purports to provide specifically for the payment of bonus 'on the basis of profits or on the basis of production or productivity and for matters ..... employee as bonus or commission for services rendered, where such sum would not have been payable to him as profits or dividend if it had not been paid as bonus or commission: provided that the deduction in respect of bonus paid to an employee employed in a factory or other establishment to which the provisions of the payment of bonus act, 1965 (21 of 1965), apply shall not exceed the amount of bonus payable under that act: provided further that the amount of the bonus (not being bonus referred to in the first proviso) or commission is reasonable with reference to-- (a) the pay of the employee and the conditions .....

Seshasayee Paper Boards Ltd. Vs. Commissioner of Income- Tax

Court : Chennai

Reported in : [1999]237ITR488(Mad)

..... again amended by the payment of bonus (second amendment) act, 1980, and sub-section (1) of section 15 after the said amendment reads as under : 'where for any accounting year, the allocable surplus exceeds the amount of maximum bonus payable to the employees in the establishment under section 11, then, the excess shall, subject to a limit of twenty per cent, of the total salary or wage of the employees employed in the establishment in that accounting year, be carried forward for being set on in the succeeding accounting year and so on up to and inclusive of the fourth accounting year to be utilised for the purpose of payment of bonus in the ..... 'the above section 15 was amended by the central act 23 of 1976 with effect from 25-9-1975 and sub-section (1) after the amendment reads as under :'where for any accounting year, the allocable surplus exceeds the amount of bonus payable to the employees in the establishment under section 10, then, the excess shall, subject to a limit of twenty per cent of the total salary or wage of the employees employed in the establishment in that accounting year, be carried forward for being set on in the succeeding account year and so on, to be utilised for the purpose of payment of bonus, in the manner illustrated in the third .....

Commissioner of Income-tax Vs. Shaw Wallace and Co. Ltd.

Court : Kolkata

Reported in : [1991]190ITR455(Cal)

..... nazir cashew industries : [1987]166itr611(ker) , the kerala high court referred to the amendment made in section 36 of the income-tax act, 1961, by the payment of bonus (amendment) act, 1976, with effect from september 25, 1975. ..... this amendment only indicates that the legislature did never intend that the payment of bonus in whatever name it is called in excess of the amount of bonus prescribed under the payment of bonus act, 1965, would not be allowable even if such payment is reasonable and has been made having regard to the commercial and business expediency and to maintain the target of production through sustained industrial peace.19. ..... learned counsel for the revenue finally submitted that the amendment made in 1975 in the payment of bonus act, 1965, reflects the economic policy of the government to encourage accumulation of profit for development of industry as also to encourage savings for better utilisation of funds in the interest of welfare of the society. ..... bhattacharjee, learned counsel appearing for the revenue, referred to the historical background leading to the enactment of the payment of bonus act, 1965, and the various amendments made thereto from time to time. .....

Life Insurance Corporation of India and ors. Vs. Amalendu Gupta and or ...

Court : Kolkata

Reported in : (1988)IILLJ495Cal

..... the present attempt made by the 1981 amending act and the rules thereunder to scuttle the payment of bonus with effect from a date anterior to the date of the enactment must, therefore, fail. ..... bahadur 1981 i llj 1 on a consideration of the relevant provisions and precedents.the attempt made to supersede the settlements, in so far as they related to the payment of bonus, by enacting the life insurance corporation (modification of settlement) act, 1976 failed, firstly because the act was held to violate the provisions of article 31(2) of the constitution and secondly because the act could not have retrospective effect so as to absolve the life insurance corporation from obeying the writ of mandamus issued by the calcutta high court, which had become final and binding on the parties. ..... , preferring not to express any view on that question.the second attempt to nullify the 1974 settlements in regard to payment of bonus, by issuing notices under section 19(2) and section 9a of the industrial dispute act and by amending the standardization order and the staff regulations was frustrated by the judgment of this court in life insurance corporation of india v. d.j. ..... on 27th may, 1976 the appellant issued a purported notice of termination of the settlement dated 24th january, 1974 under the provisions of section 19(2) of the said act and also purported to amend the staff regulations relating to bonus. .....