- (1.) THIS is a petition under Article 226 of the Constitution on behalf of a private limited company called Jayna Time Industries with its registered office at Daryaganj, Delhi, and having a factory at Ghaziabad. The dispute arose between the petitioner-company and its employees with regard to the payment of bonus for the year 1964. This dispute was eventually referred by the State of Uttar Pradesh for adjudication to the Industrial Tribunal III, Allahabad. The following question was referred to the Tribunal: Should the employers be required to pay bonus to their workmen for the year 1964? If so, at what rate and with what other details. After the parties had exchanged pleadings, a sum of Rs. 41,680 was worked out as available surplus in the following manner: JUDGEMENT_2_TLALL0_1974Html1.htm
(2.) AGAINST this available surplus, the petitioner claimed to set off an aggregate sum of Rs. 1,36,263. 00 on account of losses brought forward from earlier years. In this way a net loss of Rupees 94,583. 00 was worked out, The figure of loss of Rs. 1,36,263. 00 claimed as a brought forward loss is made up of the following items: JUDGEMENT_2_TLALL0_1974Html2.htm
(3.) ACCORDING to the petitioner, the available surplus for the year 1964 was wiped out completely by the brought forward business loss and development rebate and as such it was not liable for the payment of any bonus. The presiding officer has not accepted this position as in his view a sum of Rs. 1,65,600 which is the total amount of development rebate/reserve brought forward from the earlier years was not a loss which could be deducted in arriving at the available surplus.;