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PWS ENGINEERS LIMITED Versus DY. COMMISSIONER OF INCOME TAX.

2015 (3) TMI 1194 - GUJARAT HIGH COURT

Disallowance of remuneration paid to four Directors - Held that:- Appeal admitted on following question of law:

Whether on the facts and in the circumstances of the case, the Tribunal was right in law and in overlooking the fact that the entire exercise was revenue neutral in nature because the company as well as its Directors were taxable at the same rate and that the Directors had paid off the taxes and taking into consideration it ought not to have confirmed any part of the disallo .....

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eal preferred by the assessee confirming the disallowance of Directors remuneration of ₹ 47,90,178/- against the disallowance of Directors remuneration by the Assessing Officer of ₹ 99,80,414/-, the assessee has preferred the present Tax Appeal with the following proposed substantial questions of law; (i) Whether on the facts and in the circumstances of the case, the Tribunal was right in law as well as on facts in confirming the disallowance of ₹ 47,90,178/- out of the total r .....

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the impugned judgment and order passed by the learned Tribunal by which accepting the submissions made on behalf of the assessee and the increase in the turnover to 3.6 times of the immediately preceeding year which comes to ₹ 32,40,000/-, it cannot be said that the learned Tribunal has committed any error. It is submitted that instead of increase in the turnover, the learned Tribunal ought to have considered the increase in the profit (page 25). However, the aforesaid cannot be accepted a .....

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tion of ₹ 47,90,178/-. Shri Manish Shah, learned Counsel appearing on behalf of the assessee has also relied upon the decision of this Court in the case of Commissioner of Income Tax III Vs. Ashok J. Patel reported in [2014] 43 Taxmann.com227 (Gujarat) in support of his case that when there is disallowance by the Assessing Officer under Section 40(a)(ia) of the Income Tax Act, the onus was upon the Assessing Officer. However, in the facts and circumstances of the case, the said decision wo .....

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