2011 (12) TMI 591

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....ome Tax Act, 1961 (Act, for short) relates to the assessment year 2006-07 and impugns the order dated 30th May, 2011 passed by the Income Tax Appellate Tribunal (for short, the tribunal) in the case of Creative Travel Pvt. Ltd. 2. The Assessing Officer disallowed Rs. 77,37,965/- paid as commission and bonus to the directors on the ground that there was non-compliance and violation of the provis....

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....ndent company were paid bonus and commission of Rs. 77,37,965/-. The aforesaid amount as per the provisions of the Act was treated as salary paid and TDS was deducted. As per the findings recorded by the tribunal, the said Directors have paid tax in the highest tax bracket. The tribunal has rightly noticed that dividend has to be paid to all shareholders equally as per the provisions of the Compan....