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1970 (5) TMI 5 - SC - Income TaxRemuneration to director - AO disallowed the expenses holding that the allowance paid to the two directors was excessive or unreasonable having regard to the legitimate business needs of the company and the benefit derived by or accruing to it therefrom - assessee plea that even if the taxpayer does not produce any evidence in support of the claim for allowance, the ITO must independently collect evidence and decide that the allowance claimed is excessive or unreasonable, is not accepted
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