https://www.taxtmi.com/caselaws?id=261840 The reassessment orders for the assessment years 2005-06, 2006-07, 2007-08, and 2008-09 were quashed due to defective jurisdiction based on a change of opinion in issuing notices under section 148. The disallowance of commission payments to directors under section 36(1)(ii) was not upheld as the payments were for services rendered. The levy of penal interest under sections 234A, 234B, 234C, and 234D became moot with the invalidation of reassessment orders. The directions to verify and allow remuneration to directors were given by the CIT(A). The appeals of the assessee were allowed, dismissing the appeals of the AO. en-us Wed, 22 Jul 2015 00:00:00 +0530 Fri, 24 Jul 2015 15:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261840 The reassessment orders for the assessment years 2005-06, 2006-07, 2007-08, and 2008-09 were quashed due to defective jurisdiction based on a change of opinion in issuing notices under section 148. The disallowance of commission payments to directors under section 36(1)(ii) was not upheld as the payments were for services rendered. The levy of penal interest under sections 234A, 234B, 234C, and 234D became moot with the invalidation of reassessment orders. The directions to verify and allow remuneration to directors were given by the CIT(A). The appeals of the assessee were allowed, dismissing the appeals of the AO. Case-Laws Income Tax Wed, 22 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261840