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PETITIONER: THE SREE MEENAKSHI MILLS, LTD.
Vs.
RESPONDENT: THEIR WORKMEN(and connected appeals)
DATE OF JUDGMENT: 05/11/1957
BENCH: GAJENDRAGADKAR, P.B. BENCH: GAJENDRAGADKAR, P.B. BHAGWATI, NATWARLAL H. IMAM, SYED JAFFER
CITATION: 1958 AIR 153 1958 SCR 878
ACT: Industrial Dispute-Bonus-Available surplus-Determination of- Depreciation allowable under income-tax Act, if can be deducted as prior charge-Part of depreciation claimed disallowed-Provision for higher amount of income-tax, if can be allowed-Appellate Tribunal’s Power of review.
HEADNOTE: The workmen demanded bonus for the year 1950-5, on the allegation that the employers had made profits during the relevant year. The employers resisted the demand on the ground that 879 there was a trading loss in the year and as such no bonus was payable. To determine the available surplus out of which bonus was to be paid, the employers deducted out of their gross profits an amount for depreciation admissible under the Income-tax Act. The industrial tribunal disallowed a portion of the depreciation and found that there were profits in the relevant year and awarded three months bonus to the workmen. The employers preferred appeals to the Labour ...