THE HON'BLE SMT JUSTICE T.MEENA KUMARI & THE HON'BLE SRI JUSTICE NOOTY RAMAMOHANA RAO REFERRED CASE NO : 114 of 1996 ORDER: (Per Hon’ble Smt. Justice T. Meena Kumari) In this case, under Section 256(1) of the Income Tax Act, 1961, the following questions are referred to this Court for opinion: (1) “Whether, on the facts and in the circumstances of the case, the ITAT was correct in law in directing to allow 40% of the Incentive Bonus earned as deduction towards expenses ? (2) 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 ?” When the matter was taken up, there was no representation on behalf of either the official respondents or unofficial respondents though their names are printed. Sri V.R.Badri, Counsel representing Sri S.R. Ashok, learned Senior Counsel submitted that the above referred questions are covered by a judgment of this Court reported in “ Commissioner of Income Tax Vs. B. Chinnaiah[1].. Recording the above submission, this reference is answered in terms of the above judgment. __________________________ Justice T. Meena Kumari _____________________________ Justice Nooty Ramamohana Rao Date: 9th March, 2010 nn. THE HON'BLE SMT JUSTICE T.MEENA KUMARI & THE HON'BLE SRI JUSTICE NOOTY RAMAMOHANA RAO REFERRED CASE NO : 114 of 1996 (Order delivered by the Hon’ble Smt. Justice T. Meena Kumari) 09/03/2010 [1] 1995-ALD-2-684