Ahmedabad Manufacturing & Calico Printing Co. Ltd. vs Commissioner Of Excess Profits Tax

Whether the Excess Profits Tax Officer (EPTO) is bound to allow bonus payments as a deduction if there is an obligation on the employer to pay them, and precluded from exercising discretion under Rule 12(1) of the First Schedule of the EPT Act --- Held No. Whether on a true construction of agreements and Provident Fund Rules, the assessee company is under obligation to pay bonus without deducting EPT --- Not answered, as the first question was answered in the negative.