Supreme Court · 1971 INSC 343 · Decided 9 December 1971
Indian Oxygen Limited v. Their Workmen
- Court
- Supreme Court of India
- Citation
- 1971 INSC 343 · [1972] 2 S.C.R. 816
- Case number
- CIVIL APPEAL No. 415/1967
- Decided
- 9 December 1971
- Bench
- C.A. VAIDYIALINGAM, KUTTYIL KURIEN MATHEW (2-judge bench)
- Outcome
- Case Partly allowed
- Case type
- Civil
- Acts & sections cited
- Companies Act
Headnote
P~ymen( of Bonus Act, 1964 s. &-Bonus paid in respect of account­ ing year not to be deducted from gross profit for computing direct 1k7Xes-­ !J1vidend declared during accounting year-Whether to be deducted from teserves "'ihown at co:nmencen1ent of accounting year-Doubtful debts' be deducted from gross profits-Set on, direc·tions as to. For its accounting year 1964-65 the Indian Oxygen Ltd. was liable to pay bonus under t.he Payment of Bonus Act 1965. The accounts of the company for the said year were passed on February 12. 1966. The company calculated bonus at the
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