9911796707
TMI Blog2021 (7) TMI 237X X X X Extracts X X X X X X X X Extracts X X X X ..... ing through the facts that the whatever be the nomenclature the remuneration within the prescribed limit as per company law is allowable. - HELD THAT:- As bonus and commission paid to the directors paid as per the agreement of their appointment with the assessee; and since amount given to the directors were within the prescribed limit as per the Company Law, the claim of expenditure ought to have ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Kolkata dated 30.05.2019 for A Y 2014. 2. At the outset, the Ld. AR Shri Sunil Surana, FCA submitted that though the assessee has raised 5 (five) grounds of appeal, the assessee is not pressing ground nos. 1 and 5 because these are general in nature and he is not pressing ground no. 4 since the amount involved is small i.e. ₹ 7,379/-. So, these grounds 1, 4 and 5 stand dismissed. So, it i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the aforesaid grounds it is noted that it pertains to disallowance of bonus and commission paid to the directors to the tune of ₹ 15,00,000 and ₹ 99,169/- respectively totalling to ₹ 15,99,169/- as per the agreement of their appointment with the assessee; and since amount given to the directors were within the prescribed limit as per the Company Law, the claim of expenditure ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mmission; 3. We note that the payments in question was made to Mrs. Rekha Jalan and Mr. S.K. Jalan, who were directors of the assessee company. These payments were made pursuant to agreements for payment of bonus and commission copies of which were furnished to the Revenue. The payments were made within the limit prescribed by law. The CIT(A) upheld the disallowance on the ground that the agr ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
