Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2003 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2003 (9) TMI 50 - HC - Income TaxRemuneration paid to directors – allowability – Tribunal disallowing Rs. 19,000 out of remuneration payable - Commissioner of Income-tax (Appeals) has considered the matter in great detail and has noticed the increase in the sales in the relevant assessment year and has observed that such good performance was the result of very good and serious work by the directors - It is not for the income-tax authorities to determine what would be commercially expedient, and that is the function of the company or the firm – Thus in the order of Tribunal no good reason has been given why the claim of the assessee has been partly disallowed
|