https://www.taxtmi.com/caselaws?id=17395 The court upheld the disallowance of excess salary paid to the managing director under section 40(c)(i) of the Income-tax Act, citing a limit of Rs. 72,000 for allowable remuneration. Additionally, the court ruled against the assessee's claim for weighted deduction under section 35B for expenses incurred in Libya, finding them unrelated to sales promotion activities outside India. The judgment favored the Revenue, emphasizing the strict application of the Income-tax Act provisions and previous case law interpretations. en-us Mon, 05 Aug 1996 00:00:00 +0530 Tue, 22 Sep 2009 11:58:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17395 The court upheld the disallowance of excess salary paid to the managing director under section 40(c)(i) of the Income-tax Act, citing a limit of Rs. 72,000 for allowable remuneration. Additionally, the court ruled against the assessee's claim for weighted deduction under section 35B for expenses incurred in Libya, finding them unrelated to sales promotion activities outside India. The judgment favored the Revenue, emphasizing the strict application of the Income-tax Act provisions and previous case law interpretations. Case-Laws Income Tax Mon, 05 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17395