Deduction limits for related-party payments capped by amendment, changing allowable deductions and exclusions in tax law. Amendment removes a sub clause and imposes quantitative ceilings on aggregate deductions and allowances in respect of any one person, with a single maximum for periods exceeding eleven months and a monthly pro rata cap otherwise; specified employee related expenditures are excluded from those ceilings when the payee is also an employee.
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Provisions expressly mentioned in the judgment/order text.
Deduction limits for related-party payments capped by amendment, changing allowable deductions and exclusions in tax law.
Amendment removes a sub clause and imposes quantitative ceilings on aggregate deductions and allowances in respect of any one person, with a single maximum for periods exceeding eleven months and a monthly pro rata cap otherwise; specified employee related expenditures are excluded from those ceilings when the payee is also an employee.
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