https://www.taxtmi.com/caselaws?id=30691 The High Court of Punjab and Haryana ruled in Income Tax Reference No. 102 of 1992 that both Sections 40A(5) and 40(c) are applicable to directors, with the higher ceiling to be applied. The treatment of commission as a perquisite under Section 40A(5) was decided in favor of the assessee. Additionally, the court held that expenses like rent, electricity, water, and fuel bills should not be considered as part of the director's remuneration under Section 40A(5). In Income Tax Reference No. 103 of 1992, the court upheld the disallowance of deduction under Section 80HH before investment allowance deduction, following established interpretations of relevant tax provisions. en-us Wed, 16 Jan 2008 00:00:00 +0530 Tue, 16 Sep 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30691 The High Court of Punjab and Haryana ruled in Income Tax Reference No. 102 of 1992 that both Sections 40A(5) and 40(c) are applicable to directors, with the higher ceiling to be applied. The treatment of commission as a perquisite under Section 40A(5) was decided in favor of the assessee. Additionally, the court held that expenses like rent, electricity, water, and fuel bills should not be considered as part of the director's remuneration under Section 40A(5). In Income Tax Reference No. 103 of 1992, the court upheld the disallowance of deduction under Section 80HH before investment allowance deduction, following established interpretations of relevant tax provisions. Case-Laws Income Tax Wed, 16 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30691