https://www.taxtmi.com/caselaws?id=219436 The High Court upheld the Tribunal's decisions regarding the disallowance of commission paid to directors under Section 36(1)(ii) for the assessment year 2002-03, stating no substantial question of law arose. The Court also affirmed the invalidity of the reassessment for the assessment year 2003-04, as the assessee had fully disclosed all material facts during the original assessment. The Court dismissed the appeals and pending applications, emphasizing that commission paid for actual services by directors, in line with their appointment terms and not as profit distribution, does not fall under Section 36(1)(ii) of the Income Tax Act. en-us Mon, 03 Dec 2012 00:00:00 +0530 Fri, 14 Dec 2012 08:59:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219436 The High Court upheld the Tribunal's decisions regarding the disallowance of commission paid to directors under Section 36(1)(ii) for the assessment year 2002-03, stating no substantial question of law arose. The Court also affirmed the invalidity of the reassessment for the assessment year 2003-04, as the assessee had fully disclosed all material facts during the original assessment. The Court dismissed the appeals and pending applications, emphasizing that commission paid for actual services by directors, in line with their appointment terms and not as profit distribution, does not fall under Section 36(1)(ii) of the Income Tax Act. Case-Laws Income Tax Mon, 03 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219436