2021 (9) TMI 1494 - HC - Income Tax

Allowance of its Managing Director's remuneration in the computation of business profits - HELD - Question No.2 which was framed is no more an issue since identical question has been answered by this court 2014 (9) TMI 283 - BOMBAY HIGH COURT and by an order 2016 (7) TMI 1679 - BOMBAY HIGH COURT - Mr. Mistri also relies upon the Commissioner of Income Tax Vs. Woodward Governor India P. Ltd. 2009 (4) TMI 4 - SUPREME COURT Respondent requests the matter be taken up after one week so that he can consider the submissions made by Mr. Mistri and also be ready to argue on Question No.1.

Summary

The Bombay High Court heard a case with Mr. J.D. Mistri representing the Appellant and Mr. Suresh Kumar representing the Respondent. Question No.2 is no longer an issue as it has been previously addressed by the court. The matter was adjourned to 23rd September, 2021 for further consideration of Question No.1.