https://www.taxtmi.com/caselaws?id=36849 The court interpreted section 40A(5)(a) of the Income-tax Act, 1961, regarding the deduction of salary/remuneration paid to a director. It ruled that the maximum limit for deduction for companies is Rs. 72,000 per annum, in favor of the assessee and against the revenue. In a separate issue concerning relief under section 80J of the Income-tax Act for the assessment year 1973-74, the court ruled in favor of the assessee based on a previous judgment and Supreme Court decision, with both judges concurring on the decisions made in favor of the assessee. en-us Wed, 07 Nov 1979 00:00:00 +0530 Thu, 25 Mar 2010 10:22:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36849 The court interpreted section 40A(5)(a) of the Income-tax Act, 1961, regarding the deduction of salary/remuneration paid to a director. It ruled that the maximum limit for deduction for companies is Rs. 72,000 per annum, in favor of the assessee and against the revenue. In a separate issue concerning relief under section 80J of the Income-tax Act for the assessment year 1973-74, the court ruled in favor of the assessee based on a previous judgment and Supreme Court decision, with both judges concurring on the decisions made in favor of the assessee. Case-Laws Income Tax Wed, 07 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36849