https://www.taxtmi.com/caselaws?id=59040 The case involved the interpretation of provisions of s. 40A(5) and s. 40(c) of the IT Act regarding remuneration for an employee-director. The Tribunal ruled that s. 40(c) applied, setting the limit at Rs. 72,000, dismissing the Revenue's appeal. The assessee's cross objection against s. 40A(5) was allowed. The judgment established clarity on the applicable provision for remuneration of employee-directors, emphasizing the distinction between roles held. This decision serves as a precedent for similar cases involving the permissible limits of remuneration for individuals with dual roles in a company. en-us Tue, 04 Sep 1984 00:00:00 +0530 Thu, 23 Dec 2010 16:41:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59040 The case involved the interpretation of provisions of s. 40A(5) and s. 40(c) of the IT Act regarding remuneration for an employee-director. The Tribunal ruled that s. 40(c) applied, setting the limit at Rs. 72,000, dismissing the Revenue's appeal. The assessee's cross objection against s. 40A(5) was allowed. The judgment established clarity on the applicable provision for remuneration of employee-directors, emphasizing the distinction between roles held. This decision serves as a precedent for similar cases involving the permissible limits of remuneration for individuals with dual roles in a company. Case-Laws Income Tax Tue, 04 Sep 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59040