THE HON’BLE SRI JUSTICE B.PRAKASH RAO AND THE HON’BLE SRI JUSTICE RAMESH RANGANATHAN PER THE HON’BLE SRI JUSTICE B. PRAKASH RAO R.C.NO.77 OF 1996 DT.16.06.2010 Between: Commissioner of Income-tax, A.P.I., Hyderabad ……..Applicant Vs. Sri S.Ramachandra Reddy, Hyderabad ……..Respondent. O R D E R: (per the Hon’ble Sri Justice B.Prakash Rao) Heard Sri S.R.Ashok and V.R.Badri, learned Standing Counsels appearing for the applicant. None appeared for the respondent though served. The question referred by the Tribunal reads as follows: “Whether on the facts and in the circumstances of the case, the ITAT was justified in law in holding that the assessee, a salaried employee of LIC was entitled to deduction of 40% on the incentive bonus received from his employer?” Now, it is reported by the learned standing counsel that the issue involved in this R.C. is squarely covered by the decision of this Court in COMMISSIONER OF INCOME-TAX v. B. CHINNAIAH AND OTHERS[1], which was answered in favour of the Revenue. In view of the aforesaid decision, this R.C. is answered. No order as to costs. ________________ B.PRAKASH RAO J., ________________________ RAMESH RANGANATHAN J., Dt.16.06.2010 Rns [1] ITR VOL.214, PAGE 368