https://www.taxtmi.com/caselaws?id=8980 Directors' remuneration is deductible where, on an objective appraisal of the proved facts, it is incurred wholly and exclusively for business purposes and not tainted by extra-commercial consideration. The Tribunal, as final fact-finding authority, may draw the legal inference from those facts, and its conclusion will stand unless it is based on no evidence, ignores material facts, or applies the wrong legal test. On the facts discussed, the directors were senior executives who had earlier accepted a reduction in pay in the company's interest, had no shareholding or control over policy, and later received restoration of part of that cut. The deduction was therefore upheld as commercially expedient. en-us Wed, 08 Dec 1971 00:00:00 +0530 Wed, 17 Jun 2009 18:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8980 Directors' remuneration is deductible where, on an objective appraisal of the proved facts, it is incurred wholly and exclusively for business purposes and not tainted by extra-commercial consideration. The Tribunal, as final fact-finding authority, may draw the legal inference from those facts, and its conclusion will stand unless it is based on no evidence, ignores material facts, or applies the wrong legal test. On the facts discussed, the directors were senior executives who had earlier accepted a reduction in pay in the company's interest, had no shareholding or control over policy, and later received restoration of part of that cut. The deduction was therefore upheld as commercially expedient. Case-Laws Income Tax Wed, 08 Dec 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8980