https://www.taxtmi.com/caselaws?id=245999 The court upheld the classification of the assessee company as a private limited company, considering shares held by a nominee of a foreign company as shares held by the foreign company itself. It also confirmed the admissibility of managerial remuneration under section 37(1) of the Income Tax Act, ruling in favor of the assessee and dismissing the revenue's appeal. The decision was based on legal interpretations, expert opinions, and clarifications from relevant authorities, ultimately resulting in the dismissal of the revenue's appeal. en-us Fri, 28 Mar 2014 00:00:00 +0530 Sun, 13 Apr 2014 21:20:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245999 The court upheld the classification of the assessee company as a private limited company, considering shares held by a nominee of a foreign company as shares held by the foreign company itself. It also confirmed the admissibility of managerial remuneration under section 37(1) of the Income Tax Act, ruling in favor of the assessee and dismissing the revenue's appeal. The decision was based on legal interpretations, expert opinions, and clarifications from relevant authorities, ultimately resulting in the dismissal of the revenue's appeal. Case-Laws Income Tax Fri, 28 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245999