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2008 (1) TMI 317 - HC - Income TaxCommission paid to the director cannot be held to be a perquisite for the purpose of limits prescribed u/s 40A (5) - in case of directors, both Sections 40A (5) & 40 (c) are attracted and the higher of the two ceilings has to be applied –held that payment on account of rent, electricity, water and fuel bills shall not be considered as perquisite for the purpose of Section 40A (5) - Tribunal was not right in law in allowing deduction u/s 80 HH before deducting investment allowance
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