https://www.taxtmi.com/caselaws?id=421027 The court dismissed the appeals, affirming the disallowance of substantial bonus payments to directors by a private limited company under Section 36(1)(ii) of the Income Tax Act. The court found that the bonuses were effectively in lieu of dividends, leading to double taxation and upholding the Assessing Officer's decision. The court emphasized the need for consistency in treatment and concluded that the bonuses did not qualify as deductible business expenses. en-us Wed, 13 Apr 2022 00:00:00 +0530 Mon, 22 Aug 2022 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421027 The court dismissed the appeals, affirming the disallowance of substantial bonus payments to directors by a private limited company under Section 36(1)(ii) of the Income Tax Act. The court found that the bonuses were effectively in lieu of dividends, leading to double taxation and upholding the Assessing Officer's decision. The court emphasized the need for consistency in treatment and concluded that the bonuses did not qualify as deductible business expenses. Case-Laws Income Tax Wed, 13 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421027