Bombay High Court Upholds Disallowance of Commission Paid to Directors Under Section 40(c)(iii) of Income Tax Act. Commission paid to directors, even if reasonable and lumpsum, constitutes remuneration subject to disallowance under Section 40(c)(iii).
9 Apr 2015The case involves an income tax reference under Section 256(1) of the Income Tax Act, 1961, by M/s. Nagpur Engineering Co. Pvt. Ltd. (the assessee) ag...




