https://www.taxtmi.com/caselaws?id=25044 The Andhra Pradesh High Court ruled that in cases involving joint managing directors who are also employees of a company, the provisions of section 40(c) of the Income-tax Act, 1961 should primarily govern the expenditure limits, with section 40A(5) applying in specific circumstances. The court clarified that for director-employees, certain provisions of section 40A(5) should not be considered, and the total expenditure and remuneration should not exceed Rs. 72,000. This decision aligns with interpretations from other High Courts and provides clarity on determining remuneration and expenditure limits for director-employees under the Income-tax Act, 1961. en-us Fri, 20 Nov 1987 00:00:00 +0530 Mon, 25 Jan 2010 10:44:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25044 The Andhra Pradesh High Court ruled that in cases involving joint managing directors who are also employees of a company, the provisions of section 40(c) of the Income-tax Act, 1961 should primarily govern the expenditure limits, with section 40A(5) applying in specific circumstances. The court clarified that for director-employees, certain provisions of section 40A(5) should not be considered, and the total expenditure and remuneration should not exceed Rs. 72,000. This decision aligns with interpretations from other High Courts and provides clarity on determining remuneration and expenditure limits for director-employees under the Income-tax Act, 1961. Case-Laws Income Tax Fri, 20 Nov 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25044