THE HON'BLE SMT JUSTICE T.MEENA KUMARI & THE HON'BLE SRI JUSTICE NOOTY RAMAMOHANA RAO REFERRED CASE NO :216 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 question is referred to this Court for opinion: “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, it is submitted by both the Counsel that the above referred question is covered by a judgment of this Court reported in “ Commissioner of Income Tax Vs. B. Chinnaiah and others[1]. Following the above judgment, the above referred question is answered in favour of the revenue. Accordingly, the reference is answered. __________________________ Justice T. Meena Kumari _____________________________ Justice Nooty Ramamohana Rao Date: 23rd March, 2010 nn. THE HON'BLE SMT JUSTICE T.MEENA KUMARI & THE HON'BLE SRI JUSTICE NOOTY RAMAMOHANA RAO REFERRED CASE NO :216 of 1996 (Order delivered by the Hon’ble Smt. Justice T. Meena Kumari) 23/03/2010 [1] 1995 Income Tax Reports Vol.214 Page No.368