https://www.taxtmi.com/caselaws?id=18233 Directors' remuneration was required to be considered under section 37 rather than section 40(c), and refusal to admit that additional ground was not justified, favouring the assessee. Commission formed part of remuneration for section 40(c), favouring the Revenue. Investment allowance was not available on the increased cost of imported assets arising from subsequent exchange-rate fluctuation, as section 32A did not extend to that additional cost. The reference was therefore resolved partly in favour of the assessee and partly in favour of the Revenue. en-us Tue, 08 Nov 1994 00:00:00 +0530 Tue, 29 Sep 2009 16:05:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18233 Directors' remuneration was required to be considered under section 37 rather than section 40(c), and refusal to admit that additional ground was not justified, favouring the assessee. Commission formed part of remuneration for section 40(c), favouring the Revenue. Investment allowance was not available on the increased cost of imported assets arising from subsequent exchange-rate fluctuation, as section 32A did not extend to that additional cost. The reference was therefore resolved partly in favour of the assessee and partly in favour of the Revenue. Case-Laws Income Tax Tue, 08 Nov 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18233