TMI Blog2019 (11) TMI 1034X X X X Extracts X X X X X X X X Extracts X X X X ..... ry of 4000 Euros per month, which is equivalent to ₹ 2.00 lakh per month. Considering the qualification, experience and his past salary, we are satisfied that remuneration of ₹ 22.00 lakh paid to Shri Rohit J. Kshirsagar is reasonable. It is further observed that the assessee paid remuneration of ₹ 24.00 lakh to Shri Rohit J. Kshirsagar during the immediately preceding year, which was uncontrovertedly stated to have been allowed. - order to delete the addition made in respect of salary paid to Shri Rohit J. Kshirsagar. As regards the salary of ₹ 22.00 paid to Smt. Pratibha Kshirsagar, it is seen that the AO recorded her statement during the assessment proceedings. She is a founder director of the assessee-company. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ₹ 47,10,500/- to its three directors, namely, Shri Ram Golhar - ₹ 3,10,500/-; Shri Rohit Kshirsasgar - ₹ 22.00 lakh and Smt. Pratibha Kshirsagar - ₹ 22.00 lakh. The assessee was asked to justify the amount paid as salary to the directors for which the assessee tendered some explanation, which has been recorded in the assessment order. The AO recorded statements of the two directors to whom salary at the rate of ₹ 22.00 lac each was paid. Considering the entire factual matrix of the case, the AO treated salary paid to Shri Ram Golhar as reasonable. Out of salary of ₹ 22.00 paid to Shri Rohit J. Kshirsagar, the AO restricted the deductibility to ₹ 3,10,500/-, being, the equal amount paid to Shri Rohi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 22.00 paid to Smt. Pratibha Kshirsagar, it is seen that the AO recorded her statement during the assessment proceedings. She is a founder director of the assessee-company. As per the statement, she was engaged in areas like Production, Despatch and Feedback. It is further noticed that she was paid remuneration of ₹ 24.00 lakh during the immediately preceding assessment year which was stated to have been allowed in entirety. Such a contention of the assessee has not been disputed by the ld. DR. Considering the entire facts and circumstances prevailing in the instant case, I am satisfied that the remuneration paid to Smt. Pratibha Kshirsagar is also reasonable and does not call for any disallowance u/s.40A(2)(a) of the Act. I, therefore ..... X X X X Extracts X X X X X X X X Extracts X X X X
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