https://www.taxtmi.com/caselaws?id=37724 The court upheld the disallowance of increased remuneration for directors, excessive pension payments to a retired managing director, and bonuses, citing lack of justification and applicability of Section 40(c) of the Income-tax Act, 1961. The court emphasized the need for evidence of legitimate business needs and benefits to the company. The decision favored the revenue, and each party was to bear its own costs. en-us Thu, 09 Feb 1978 00:00:00 +0530 Wed, 31 Mar 2010 16:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37724 The court upheld the disallowance of increased remuneration for directors, excessive pension payments to a retired managing director, and bonuses, citing lack of justification and applicability of Section 40(c) of the Income-tax Act, 1961. The court emphasized the need for evidence of legitimate business needs and benefits to the company. The decision favored the revenue, and each party was to bear its own costs. Case-Laws Income Tax Thu, 09 Feb 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37724