https://www.taxtmi.com/caselaws?id=233801 The appeal in this case involved issues related to the condonation of delay in filing the appeal, disallowance of incentive bonuses paid to directors, and disallowance of depreciation on motor cars registered in the names of directors. The Tribunal accepted the explanation for the delay in filing the appeal and allowed it to proceed. The disallowance of incentive bonuses was partly upheld, allowing reasonable remuneration to two directors but disallowing excessive payments. The disallowance of depreciation on cars registered in directors' names was confirmed, treating the payment for the cars as an advance/loan to the directors. en-us Fri, 19 Apr 2013 00:00:00 +0530 Thu, 16 May 2013 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233801 The appeal in this case involved issues related to the condonation of delay in filing the appeal, disallowance of incentive bonuses paid to directors, and disallowance of depreciation on motor cars registered in the names of directors. The Tribunal accepted the explanation for the delay in filing the appeal and allowed it to proceed. The disallowance of incentive bonuses was partly upheld, allowing reasonable remuneration to two directors but disallowing excessive payments. The disallowance of depreciation on cars registered in directors' names was confirmed, treating the payment for the cars as an advance/loan to the directors. Case-Laws Income Tax Fri, 19 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233801