https://www.taxtmi.com/caselaws?id=276841 Commission paid to a managing director, though paid out of profits and linked to business profits, was disallowed by the departmental authorities on the footing that it amounted to a distribution of profits. The court held that, where the disallowance rests on that specific basis, the assessee satisfies the conditions of the exemption notification. The Commissioner had therefore misapplied the notification and committed an error apparent on the face of the record. Relief was granted, and the Commissioner was directed to restore the petition and decide it according to law. en-us Tue, 09 Mar 1954 00:00:00 +0530 Mon, 19 Nov 2018 12:59:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276841 Commission paid to a managing director, though paid out of profits and linked to business profits, was disallowed by the departmental authorities on the footing that it amounted to a distribution of profits. The court held that, where the disallowance rests on that specific basis, the assessee satisfies the conditions of the exemption notification. The Commissioner had therefore misapplied the notification and committed an error apparent on the face of the record. Relief was granted, and the Commissioner was directed to restore the petition and decide it according to law. Case-Laws Income Tax Tue, 09 Mar 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276841