https://www.taxtmi.com/caselaws?id=37610 The High Court upheld the Tribunal's decision on indirect expenses for depreciation and development rebate for the assessment year 1965-66. However, regarding the remuneration of the technical director, the court ruled in favor of the assessee, interpreting that the remuneration was exempt from tax and fell outside the total income calculation. The court also clarified that even a nil amount under the "Salaries" head qualifies under the second proviso, rejecting the revenue's argument. Consequently, the court favored the assessee, applying the second proviso and directing each party to bear their respective costs. en-us Wed, 22 Feb 1978 00:00:00 +0530 Wed, 31 Mar 2010 10:07:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37610 The High Court upheld the Tribunal's decision on indirect expenses for depreciation and development rebate for the assessment year 1965-66. However, regarding the remuneration of the technical director, the court ruled in favor of the assessee, interpreting that the remuneration was exempt from tax and fell outside the total income calculation. The court also clarified that even a nil amount under the "Salaries" head qualifies under the second proviso, rejecting the revenue's argument. Consequently, the court favored the assessee, applying the second proviso and directing each party to bear their respective costs. Case-Laws Income Tax Wed, 22 Feb 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37610