https://www.taxtmi.com/caselaws?id=58657 The Appellate Tribunal ITAT BOMBAY-C upheld the disallowance of excess remuneration paid to a professional director by a company for the assessment year 1978-79 under section 40(c) of the Income-tax Act, 1961. The Tribunal held that the payment exceeding the approved limit set by the Government of India was illegal, as all directors, including professional ones, were covered under section 309 of the Companies Act. The Tribunal emphasized that the excess payment was in violation of the law and not incidental to business, leading to the dismissal of the appeal and affirmation of the disallowance. en-us Mon, 16 Jun 1986 00:00:00 +0530 Tue, 21 Dec 2010 13:45:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58657 The Appellate Tribunal ITAT BOMBAY-C upheld the disallowance of excess remuneration paid to a professional director by a company for the assessment year 1978-79 under section 40(c) of the Income-tax Act, 1961. The Tribunal held that the payment exceeding the approved limit set by the Government of India was illegal, as all directors, including professional ones, were covered under section 309 of the Companies Act. The Tribunal emphasized that the excess payment was in violation of the law and not incidental to business, leading to the dismissal of the appeal and affirmation of the disallowance. Case-Laws Income Tax Mon, 16 Jun 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58657