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2014 (9) TMI 722 - HC - Income TaxInvocation of section 40A(2)(b) - Salary paid to the Directors Held that:- Assessee was setting up hotels in Gurgaon and Hyderabad under the guidance of the Director and expenditure as on 31.03.2009 on the capital work in progress was of ₹ 36.70 Crores and due to the efforts of the Director funds of ₹ 49.99 Crores had been raised by the assessee - The amount paid to the director had resulted in deduction of tax at source and income tax paid by the said director was at the maximum marginal rate the findings are factual and effectively and positively deal with the question of reasonableness of the payment the order of the Tribunal is upheld Decided against revenue.
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