https://www.taxtmi.com/caselaws?id=8948 Remuneration paid to a general manager for services actually rendered was deductible as business expenditure, even though the appointment and payment were not authorised under the Companies Act. The non-compliance with company law and the fact that the amount was recoverable under that statute did not prevent deduction because the Income-tax Act is a self-contained code for determining tax treatment. Any later recovery is dealt with separately under the tax statute in the year of recovery. The payment was therefore admissible as a business deduction. en-us Thu, 19 Apr 1973 00:00:00 +0530 Wed, 17 Jun 2009 16:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8948 Remuneration paid to a general manager for services actually rendered was deductible as business expenditure, even though the appointment and payment were not authorised under the Companies Act. The non-compliance with company law and the fact that the amount was recoverable under that statute did not prevent deduction because the Income-tax Act is a self-contained code for determining tax treatment. Any later recovery is dealt with separately under the tax statute in the year of recovery. The payment was therefore admissible as a business deduction. Case-Laws Income Tax Thu, 19 Apr 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8948