1979 (11) TMI 122 - AT - Income Tax

Summary

The Revenue's appeal regarding disallowance of payment to Directors of a private limited company for asst. yr. 1975-76 was dismissed by ITAT Amritsar. The ITO disallowed Rs. 19,800, but the ld. AAC deleted the addition. The directors were involved in managing two registered firms, justifying the payment. The total payment of Rs. 22,000 to the directors was deemed not excessive.