https://www.taxtmi.com/caselaws?id=401215 The tribunal allowed the appeal, overturning the decision of the Commissioner of Income Tax (Appeals) and deleting the disallowed excessive remuneration paid to the Managing Director. The tribunal found that the Assessing Officer exceeded the scope of scrutiny by not conducting a fair assessment of the remuneration amount, solely focusing on turnover. Emphasizing the importance of services rendered by the Managing Director, the tribunal concluded that the payment was for legitimate services and not a colorable device. The tribunal deemed the examination by the AO beyond jurisdiction, leading to the allowance of the assessee's appeal. en-us Mon, 23 Nov 2020 00:00:00 +0530 Mon, 30 Nov 2020 19:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401215 The tribunal allowed the appeal, overturning the decision of the Commissioner of Income Tax (Appeals) and deleting the disallowed excessive remuneration paid to the Managing Director. The tribunal found that the Assessing Officer exceeded the scope of scrutiny by not conducting a fair assessment of the remuneration amount, solely focusing on turnover. Emphasizing the importance of services rendered by the Managing Director, the tribunal concluded that the payment was for legitimate services and not a colorable device. The tribunal deemed the examination by the AO beyond jurisdiction, leading to the allowance of the assessee's appeal. Case-Laws Income Tax Mon, 23 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401215