AO Classifies Company as Public Under Companies Act, Section 4(7); Managerial Remuneration Deductible per Income Tax Act, Section 37(1.

AO Classifies Company as Public Under Companies Act, Section 4(7); Managerial Remuneration Deductible per Income Tax Act, Section 37(1. https://www.taxtmi.com/highlights?id=18165 Deduction u/s 37(1) AO invoked the provisions of section 4(7) of the Companies Act, 1956 and reached at the conclusion that the assessee company is to be treated as public company and the managerial remuneration paid in contravention to provisions of Companies Act, 1956 was an offence/prohibited in law - deduction allowed - AT en-us Mon, 14 Apr 2014 05:40:24 +0530 Mon, 14 Apr 2014 05:40:24 +0530 TaxTMI RSS Generator AO Classifies Company as Public Under Companies Act, Section 4(7); Managerial Remuneration Deductible per Income Tax Act, Section 37(1. https://www.taxtmi.com/highlights?id=18165 Deduction u/s 37(1) AO invoked the provisions of section 4(7) of the Companies Act, 1956 and reached at the conclusion that the assessee company is to be treated as public company and the managerial remuneration paid in contravention to provisions of Companies Act, 1956 was an offence/prohibited in law - deduction allowed - AT Highlights Income Tax Mon, 14 Apr 2014 05:40:24 +0530 https://www.taxtmi.com/highlights?id=18165