https://www.taxtmi.com/caselaws?id=276948 Director's remuneration paid under the articles by reason of holding the office of governing director remains director's remuneration for excess profits tax purposes, even where the director performs functions resembling managerial duties. A governing director does not hold separate offices of director and manager merely because of those functions, and no managerial employment arises without a contract of service. The Rule 7(2)(a) exception applies only where the director devotes substantially the whole of his time to managerial or technical work and satisfies the statutory conditions. Such remuneration is therefore not deductible in computing excess profits. en-us Wed, 27 Aug 1952 00:00:00 +0530 Tue, 20 Nov 2018 17:13:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276948 Director's remuneration paid under the articles by reason of holding the office of governing director remains director's remuneration for excess profits tax purposes, even where the director performs functions resembling managerial duties. A governing director does not hold separate offices of director and manager merely because of those functions, and no managerial employment arises without a contract of service. The Rule 7(2)(a) exception applies only where the director devotes substantially the whole of his time to managerial or technical work and satisfies the statutory conditions. Such remuneration is therefore not deductible in computing excess profits. Case-Laws Income Tax Wed, 27 Aug 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276948