https://www.taxtmi.com/caselaws?id=258171 Remuneration paid to specified persons under section 40A(2)(b) can be disallowed only where it is shown on a rational and comparable basis to be excessive or unreasonable having regard to market value, business needs and benefit derived; on the facts, the disallowance of directors' remuneration was deleted because no proper comparables or concrete basis supported the estimate. Interest disallowance under section 14A requires an accounts-based determination of expenditure relatable to exempt income, including the source of funds and the method of computation; as the record was inadequate, the interest-disallowance issue was set aside and remanded for fresh decision. en-us Fri, 05 Apr 2013 00:00:00 +0530 Thu, 02 Apr 2015 05:58:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258171 Remuneration paid to specified persons under section 40A(2)(b) can be disallowed only where it is shown on a rational and comparable basis to be excessive or unreasonable having regard to market value, business needs and benefit derived; on the facts, the disallowance of directors' remuneration was deleted because no proper comparables or concrete basis supported the estimate. Interest disallowance under section 14A requires an accounts-based determination of expenditure relatable to exempt income, including the source of funds and the method of computation; as the record was inadequate, the interest-disallowance issue was set aside and remanded for fresh decision. Case-Laws Income Tax Fri, 05 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258171