Court Rules Bonuses to Director Shareholders Are Deductible, Not Disguised Dividends, u/s 36(1)(iii) of Income Tax Act.

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....Disallowance as bonus to director shareholders of the assessee company u/s. 36(1)(iii) - whether it is a dividend payment in disguise - Held No - it should be allowed as a deduction while computing the income of the assessee.....