https://www.taxtmi.com/caselaws?id=393409 The Tribunal overturned the assessing officer's decision to disallow the remuneration paid to the Director under Section 37(1) of the Income Tax Act. It emphasized the Director's role and past allowance of salary payments, finding his explanation reasonable. Additionally, the Tribunal allowed the Director's remuneration for consultation and advisory services, stating that expenses for business purposes could be claimed as deductions. The Tribunal also rejected the disallowance of remuneration under Section 153-A, noting the Director's role and lack of evidence against payment. Furthermore, it upheld the reliance on DRI's findings and considered the impact of CESTAT's order on the assessment pending before the High Court of Gujarat. en-us Wed, 04 Mar 2020 00:00:00 +0530 Fri, 13 Mar 2020 11:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393409 The Tribunal overturned the assessing officer's decision to disallow the remuneration paid to the Director under Section 37(1) of the Income Tax Act. It emphasized the Director's role and past allowance of salary payments, finding his explanation reasonable. Additionally, the Tribunal allowed the Director's remuneration for consultation and advisory services, stating that expenses for business purposes could be claimed as deductions. The Tribunal also rejected the disallowance of remuneration under Section 153-A, noting the Director's role and lack of evidence against payment. Furthermore, it upheld the reliance on DRI's findings and considered the impact of CESTAT's order on the assessment pending before the High Court of Gujarat. Case-Laws Income Tax Wed, 04 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393409