https://www.taxtmi.com/caselaws?id=277220 Directors' remuneration paid in British India was held deductible in full as a business expense in computing taxable income. The court found no agreement or statutory basis for apportioning any part of the fees to the exempt Gwalior undertaking, and the existence of exempt Gwalior income did not justify a proportionate disallowance. In the absence of a specific allocation, the directors' fees were treated as a single expense incurred in earning the company's income, so the attempted disallowance of a part of the deduction was not justified. en-us Wed, 06 Dec 1950 00:00:00 +0530 Thu, 29 Nov 2018 12:46:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277220 Directors' remuneration paid in British India was held deductible in full as a business expense in computing taxable income. The court found no agreement or statutory basis for apportioning any part of the fees to the exempt Gwalior undertaking, and the existence of exempt Gwalior income did not justify a proportionate disallowance. In the absence of a specific allocation, the directors' fees were treated as a single expense incurred in earning the company's income, so the attempted disallowance of a part of the deduction was not justified. Case-Laws Income Tax Wed, 06 Dec 1950 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277220