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2005 (8) TMI 87 - HC - Income TaxRemuneration paid to the director during the year without the sanction of the Central Government - Whether Tribunal was justified in upholding the disallowance of Rs. 1,46,027 being the remuneration paid to the director during the year without the sanction of the Central Government?" - sanction was kept pending since there was a challenge to the guidelines framed by the Central Government under the provisions of the Companies Act - It is no doubt true that on the date when the Tribunal decided the appeal filed by the assessee, the view taken by it was a justified view, however, in view of the subsequent event, the view held by the Tribunal cannot be said to be good. In this scenario, the said question referred is answered in the negative, i.e., in favour of the assessee and against the Revenue
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