2015 (3) TMI 1194

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ibunal was right in law and in overlooking the fact that the entire exercise was revenue neutral in nature because the company as well as its Directors were taxable at the same rate and that the Directors had paid off the taxes and taking into consideration it ought not to have confirmed any part of the disallowance made by the authorities?
MR.JUSTICE M.R. SHAH AND MR.JUSTICE S.H.VORA MR MANIS .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... acts in confirming the disallowance of ₹ 47,90,178/- out of the total remuneration paid to four Directors of ₹ 80,30,178/-? (ii) Whether on the facts and in the circumstances of the case, the Tribunal was right in law and in overlooking the fact that the entire exercise was revenue neutral in nature because the company as well as its Directors were taxable at the same rate and that t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ied to justify the increase of remuneration from ₹ 9 lakhs per annum to ₹ 99,80,414/- by submitting that because of the hard work by the Directors' the sale increased. Accepting the above, the learned Tribunal while considering the increase in sale / turnover to 3.6 times allowed the remuneration at ₹ 32,40,000/- and disallowed the balance of Directors' remuneration of ₹ 47 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... t because of the efforts made by the Directors the sale has increased and accepting the above, the learned Tribunal has restricted the disallowance to ₹ 47,90,178/- and granted the benefit of 3.6 time turnover than the earlier years remuneration but, on facts, the said decision would not be applicable to the facts of the case on hand. Under the circumstances, the present Tax Appeal qua the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the aforesaid question no.(ii) i.e.; (ii) Whether on the facts and in the circumstances of the case, the Tribunal was right in law and in overlooking the fact that the entire exercise was revenue neutral in nature because the company as well as its Directors were taxable at the same rate and that the Directors had paid off the taxes and taking into consideration it ought not to have confirmed a .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X