https://www.taxtmi.com/caselaws?id=20068 The High Court ruled in favor of the assessee, determining that the expenditure for purchasing annuities for the director did not fall under the restrictions of section 40(c)(i) of the Income-tax Act, 1961. The court held that the payments were for services rendered in capacities other than the director's role, not constituting remuneration or benefits under the section. The court rejected the argument that the payments could be considered special remuneration under the company's articles, emphasizing that such provision applied to director services, not separate obligations. en-us Tue, 23 Nov 1993 00:00:00 +0530 Wed, 11 Nov 2009 14:23:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20068 The High Court ruled in favor of the assessee, determining that the expenditure for purchasing annuities for the director did not fall under the restrictions of section 40(c)(i) of the Income-tax Act, 1961. The court held that the payments were for services rendered in capacities other than the director's role, not constituting remuneration or benefits under the section. The court rejected the argument that the payments could be considered special remuneration under the company's articles, emphasizing that such provision applied to director services, not separate obligations. Case-Laws Income Tax Tue, 23 Nov 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20068