1998 (8) TMI 26

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..... at the instance of the assessee. The assessment year with which we are concerned is 1979-80. 2. During the relevant previous year, the assessee had paid to its managing director a total sum of Rs. 1,07,760 out of which Rs. 60,000 was paid towards the fixed remuneration, Rs. 30,000 was paid towards the commission at one per cent of the net profit and the balance amounts were paid towards the provi .....

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..... 2,000, even without a finding whether the remuneration was excessive on unreasonable having regard to the business needs of the company is, therefore, to be answered against the assessee and in favour of the Revenue. 4. The second question is related to the first question. That question is as to whether the commission is includible in the taxation limit as laid in s. 40(c) of the Act. That questi .....

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