https://www.taxtmi.com/caselaws?id=191634 The Court held that section 40(c) of the Income-tax Act, 1961 applies to remuneration or benefits provided to whole-time directors, contrary to the Tribunal's decision. Medical reimbursement to directors is considered a perquisite for disallowance purposes. Excess payment due to exchange rate fluctuations on dollar loans is treated as capital expenditure. The inclusion of commission paid to directors within 'remuneration' is remanded for further examination. Expenditure during employees' stay outside headquarters qualifies as traveling expenses. The first, second, and third issues were decided in favor of the revenue, the fifth in favor of the assessee, and the fourth was remanded for reconsideration. en-us Fri, 02 Jul 1993 00:00:00 +0530 Mon, 10 Apr 2017 15:21:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191634 The Court held that section 40(c) of the Income-tax Act, 1961 applies to remuneration or benefits provided to whole-time directors, contrary to the Tribunal's decision. Medical reimbursement to directors is considered a perquisite for disallowance purposes. Excess payment due to exchange rate fluctuations on dollar loans is treated as capital expenditure. The inclusion of commission paid to directors within 'remuneration' is remanded for further examination. Expenditure during employees' stay outside headquarters qualifies as traveling expenses. The first, second, and third issues were decided in favor of the revenue, the fifth in favor of the assessee, and the fourth was remanded for reconsideration. Case-Laws Income Tax Fri, 02 Jul 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191634