https://www.taxtmi.com/caselaws?id=63889 The tribunal clarified that the overall limit of Rs. 72,000 under section 40(c) of the Income-tax Act, 1961 applied to directors' salary and perquisites, irrespective of their employee status. The tribunal upheld the Commissioner (Appeals) decision to allow the balance of the perquisites, as the total amount paid to the directors fell within the prescribed limit. Consequently, the revenue's appeal was partially allowed, emphasizing the uniform application of the Rs. 72,000 ceiling to directors' remuneration and perquisites. en-us Sat, 31 Mar 1984 00:00:00 +0530 Wed, 02 Feb 2011 15:53:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63889 The tribunal clarified that the overall limit of Rs. 72,000 under section 40(c) of the Income-tax Act, 1961 applied to directors' salary and perquisites, irrespective of their employee status. The tribunal upheld the Commissioner (Appeals) decision to allow the balance of the perquisites, as the total amount paid to the directors fell within the prescribed limit. Consequently, the revenue's appeal was partially allowed, emphasizing the uniform application of the Rs. 72,000 ceiling to directors' remuneration and perquisites. Case-Laws Income Tax Sat, 31 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63889