https://www.taxtmi.com/caselaws?id=18397 The court ruled in favor of the Revenue regarding the eligibility for weighted deduction under Section 35B, disallowance of director's remuneration exceeding Rs. 72,000 under Section 40(c), and the binding nature of High Court decisions on other High Courts and Tribunals. However, the court sided with the assessee on the method of calculating the value of perquisites for free use of cars by employee directors under Section 40A(5). The court upheld the application of Rule 3(c)(ii) of the Income-tax Rules for valuation purposes. en-us Thu, 14 Dec 1995 00:00:00 +0530 Wed, 30 Sep 2009 16:36:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18397 The court ruled in favor of the Revenue regarding the eligibility for weighted deduction under Section 35B, disallowance of director's remuneration exceeding Rs. 72,000 under Section 40(c), and the binding nature of High Court decisions on other High Courts and Tribunals. However, the court sided with the assessee on the method of calculating the value of perquisites for free use of cars by employee directors under Section 40A(5). The court upheld the application of Rule 3(c)(ii) of the Income-tax Rules for valuation purposes. Case-Laws Income Tax Thu, 14 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18397