https://www.taxtmi.com/caselaws?id=261946 The ITAT Mumbai, in a judgment dated March 25, 2015, ruled in favor of the appellant in a case involving excess remuneration paid to directors and disallowance under section 40(a)(ia) of the Income Tax Act, 1961. The ITAT reversed the CIT (A)'s order on excess remuneration, finding that the remuneration was approved by the Central Government as required by the Companies Act. Regarding the disallowance under section 40(a)(ia), the ITAT remitted the matter back to the AO for fresh adjudication, allowing the appeal in part due to the retrospective effect of the proviso to the section. en-us Wed, 25 Mar 2015 00:00:00 +0530 Tue, 28 Jul 2015 06:54:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261946 The ITAT Mumbai, in a judgment dated March 25, 2015, ruled in favor of the appellant in a case involving excess remuneration paid to directors and disallowance under section 40(a)(ia) of the Income Tax Act, 1961. The ITAT reversed the CIT (A)'s order on excess remuneration, finding that the remuneration was approved by the Central Government as required by the Companies Act. Regarding the disallowance under section 40(a)(ia), the ITAT remitted the matter back to the AO for fresh adjudication, allowing the appeal in part due to the retrospective effect of the proviso to the section. Case-Laws Income Tax Wed, 25 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261946