2011 (12) TMI 591

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....elates 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 provisions of Section 36(1)(ii) of the Act. ....

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....on 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 Companies Act, 1956. The said position cannot be....