Supreme Court Upholds Disallowance of Part of Technical Adviser's Remuneration under Section 10(2)(xv) of Income-tax Act, 1922. The Court held that tax authorities may disallow expenditure not incurred wholly for business purpose if influenced by extra-commercial considerations, without substituting their own view on reasonableness.
9 Dec 1969The assessee, a public limited company engaged in manufacturing enamelled ware, had appointed Dr. Ganguly as its Technical Adviser with a remuneration...
