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Income Tax - Highlights / Catch Notes

Home Highlights November 2012 Year 2012 This

IT - Sec. 40A(2) - increase in remuneration to Directors - when ...

Income Tax

November 2, 2012

IT - Sec. 40A(2) - increase in remuneration to Directors - when CLB had approved the remuneration it could not be said that the expenditure was excessive or unreasonable - AT

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  2. Addition u/s. 40A(2)(b) of the Income Tax Act purely on the ground that the assessee has increased remuneration to its Directors - Remuneration of Rs.30,00,000/-...

  3. Addition u/s 40A (2) (b) - exponential increase in the Directors’ remuneration - CBDT Circular clearly states that no disallowance is to be made u/s 40A (2) in respect...

  4. Director’s Remuneration disallowed – Exceptionally high remuneration paid - the increase in Directors’ remuneration to about 9 times cannot be justified on the basis of...

  5. Addition on account of directors’ remuneration being treated as excessive u/s. 40A(2) - once it is established that remuneration has been paid to directors then Revenue...

  6. Provision for remuneration of whole time directors – Enhanced directors remuneration – claim of assessee was allowable - AT

  7. Disallowance u/s 40A(2) - payment of remuneration to whole time directors - Not disputed that the concerned directors are assessed to tax at the maximum rate of 30%. -...

  8. Addition u/s 40A(2) - remuneration paid to the Managing Director nearly 90% of the returned income of the assessee company - CIT (Appeals) as well as the Tribunal have...

  9. Disallowing excess directors remuneration - sum paid towards directors remuneration and that is to the extent of 80% of the net profit - the AO has not carried out any...

  10. Disallowance u/s 40A(2)(b) - excessive remuneration - AO had not brought any material on record to substantiate that as to how and in what manner the remuneration paid...

 

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