IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX REFERENCE NO. 236 OF 1995 The CIT, Kolhapur .. Applicant V/s. Shri B.S. Kagwade, Sangli .. Respondent Mr. R.V. Desai with Ms. S.V. Bharucha and Mr. R. Ashokan for the Applicant None present for the Respondent CORAM : S. RADHAKRISHNAN & CORAM : S. RADHAKRISHNAN & CORAM : S. RADHAKRISHNAN & J.P. DEVADHAR, JJ. J.P. DEVADHAR, JJ. J.P. DEVADHAR, JJ. DATED : 22.02.2005 DATED : 22.02.2005 DATED : 22.02.2005 P.C.:- P.C.:- P.C.:- 1. Heard the learned counsel for the Applicant. The question referred to reads as under:- "1. Whether on the facts and in the circumstances of the case, the Tribunal was right in law in allowing deduction at 25% on incentive bonus, when the Tribunal itself held that the incentive bonus should be treated as salary?" 2. In view of the decision in C.I.T. v. Gopalkrishna C.I.T. v. Gopalkrishna C.I.T. v. Gopalkrishna Suri 248 ITR 819 (Bom.) Suri 248 ITR 819 (Bom.) Suri 248 ITR 819 (Bom.), the reference is answered in the negative, i.e. against the assessee and in favour of the Revenue. (S. RADHAKRISHNAN, J.) (S. RADHAKRISHNAN, J.) (S. RADHAKRISHNAN, J.) (J.P. DEVADHAR, J.) (J.P. DEVADHAR, J.) (J.P. DEVADHAR, J.)