https://www.taxtmi.com/caselaws?id=11895 The Tribunal recalled its earlier order and directed a fresh decision on the taxability of directors' remuneration. It was held that no remuneration had accrued to the assessee from Modipon Ltd. due to the lack of Central Government approval as required by the Companies Act. The Tribunal's decision was based on legal provisions and precedents, concluding that the assessee was not liable to pay tax on the remuneration. The issue regarding the determination of the value of free water/electricity was not addressed as it was not pursued by the assessee's counsel. The outcome favored the assessee, affirming that no remuneration was taxable. en-us Fri, 22 Nov 2002 00:00:00 +0530 Thu, 11 Feb 2010 15:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11895 The Tribunal recalled its earlier order and directed a fresh decision on the taxability of directors' remuneration. It was held that no remuneration had accrued to the assessee from Modipon Ltd. due to the lack of Central Government approval as required by the Companies Act. The Tribunal's decision was based on legal provisions and precedents, concluding that the assessee was not liable to pay tax on the remuneration. The issue regarding the determination of the value of free water/electricity was not addressed as it was not pursued by the assessee's counsel. The outcome favored the assessee, affirming that no remuneration was taxable. Case-Laws Income Tax Fri, 22 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11895