https://www.taxtmi.com/caselaws?id=8981 For section 384 of the Companies Act, 1956, a body corporate is a manager only if it controls the whole or substantially the whole of the company's affairs while remaining subject to the board's superintendence, control and direction. Where the arrangement shows independent delegated management rather than subordinate managerial control, the statutory definition is not satisfied, even if the agreement labels the party as a manager. On that construction, the remuneration paid under such an arrangement was not liable to disallowance as inadmissible business expenditure, and the assessee's later dispute over recovery did not affect deductibility. en-us Tue, 16 Nov 1971 00:00:00 +0530 Wed, 17 Jun 2009 19:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8981 For section 384 of the Companies Act, 1956, a body corporate is a manager only if it controls the whole or substantially the whole of the company's affairs while remaining subject to the board's superintendence, control and direction. Where the arrangement shows independent delegated management rather than subordinate managerial control, the statutory definition is not satisfied, even if the agreement labels the party as a manager. On that construction, the remuneration paid under such an arrangement was not liable to disallowance as inadmissible business expenditure, and the assessee's later dispute over recovery did not affect deductibility. Case-Laws Income Tax Tue, 16 Nov 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8981