Supreme Court · 1976 INSC 2 · Decided 16 January 1976
Workmen of National & Grindlays Bank LTD. v. The National & Grindlays Bank LTD.
- Court
- Supreme Court of India
- Citation
- 1976 INSC 2 · [1976] 3 S.C.R. 130
- Case number
- CIVIL APPEAL No. 2533/1969
- Decided
- 16 January 1976
- Bench
- HANS RAJ KHANNA, P.N. BHAGWATI, S. MURTAZA FAZAL ALI (3-judge bench)
- Outcome
- Case Partly allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 32(1)
Headnote
Pr1y111e11t of Bonus Act, 1965-Foreign banking con1pa11y-Bo11us-Cornpu­ tt11ion of allocable surplus itr!111s to be taken into account-Depreciation-Cnti­ jictlfl is.Hied by l11coo1c Tax Officer-If posseses cvidentiary i·a!ue-Working j'1111ds-Mea11i1u~ of. As a result of negotiations and its employees (appellants) an industrial dispute with regard to bonus for the years 1956 to J 964 was settled on an ad hoc basis. By the time of the settlement however, The Payment of Bonus Act, 1965 came into force. In respect of the accounting year 1964, though the bonus formula was
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