https://www.taxtmi.com/caselaws?id=27244 The court affirmed the Tribunal's decision on the allowability of the manager's remuneration under section 37(1) and section 40(c) of the Income-tax Act, 1961 for the assessment years 1967-68, 1968-69, and 1969-70. The court found the remuneration reasonable and commercially justified, emphasizing the manager's contributions to the company. However, the court faulted the Tribunal for making assumptions without evidence regarding the deductibility of interest as revenue expenditure for constructing house properties. The court directed the Tribunal to re-examine the interest disallowance issue based on the court's observations. en-us Thu, 24 Jan 1985 00:00:00 +0530 Thu, 11 Feb 2010 16:34:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27244 The court affirmed the Tribunal's decision on the allowability of the manager's remuneration under section 37(1) and section 40(c) of the Income-tax Act, 1961 for the assessment years 1967-68, 1968-69, and 1969-70. The court found the remuneration reasonable and commercially justified, emphasizing the manager's contributions to the company. However, the court faulted the Tribunal for making assumptions without evidence regarding the deductibility of interest as revenue expenditure for constructing house properties. The court directed the Tribunal to re-examine the interest disallowance issue based on the court's observations. Case-Laws Income Tax Thu, 24 Jan 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27244