https://www.taxtmi.com/caselaws?id=350086 Managerial remuneration paid above the alleged Central Government-sanctioned limit was treated as requiring fresh factual verification because the claimed board and governmental approvals had not been examined, so the matter was restored to the appellate authority. In alleged bogus purchase cases where sales were not disputed and purchase bills were viewed as accommodation entries, only the profit element embedded in the purchases was considered taxable, not the entire purchase value. The estimation made on that basis was sustained, with correction of the purchase figure to the amount reflected in the record, and the Revenue's challenge on that issue failed. en-us Fri, 27 Oct 2017 00:00:00 +0530 Tue, 31 Oct 2017 13:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350086 Managerial remuneration paid above the alleged Central Government-sanctioned limit was treated as requiring fresh factual verification because the claimed board and governmental approvals had not been examined, so the matter was restored to the appellate authority. In alleged bogus purchase cases where sales were not disputed and purchase bills were viewed as accommodation entries, only the profit element embedded in the purchases was considered taxable, not the entire purchase value. The estimation made on that basis was sustained, with correction of the purchase figure to the amount reflected in the record, and the Revenue's challenge on that issue failed. Case-Laws Income Tax Fri, 27 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350086