https://www.taxtmi.com/caselaws?id=16992 The Court upheld the decision in favor of the assessee, rejecting the Department's argument. The Tribunal's direction to recompute the liability under section 40(c) for disallowance of remuneration paid to the managing director was supported, citing relevant case law that both section 40(c) and section 40A(5) apply to directors who are also employees, with the higher of the two ceilings to be applied. The Court found no issue with the Tribunal's order and upheld it. en-us Tue, 12 Nov 1996 00:00:00 +0530 Mon, 14 Sep 2009 15:06:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16992 The Court upheld the decision in favor of the assessee, rejecting the Department's argument. The Tribunal's direction to recompute the liability under section 40(c) for disallowance of remuneration paid to the managing director was supported, citing relevant case law that both section 40(c) and section 40A(5) apply to directors who are also employees, with the higher of the two ceilings to be applied. The Court found no issue with the Tribunal's order and upheld it. Case-Laws Income Tax Tue, 12 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16992