Supreme Court · 1993 INSC 153 · Decided 13 April 1993
Commissioner of Income TAX. Bombay v. Indian Engineering and Commercial CORPN. PVT. LTD.
- Court
- Supreme Court of India
- Citation
- 1993 INSC 153 · [1993] 3 S.C.R. 86
- Case number
- CIVIL APPEAL No. 1583/1977
- Decided
- 13 April 1993
- Bench
- B.P. JEEVAN REDDY, N. VENKATACHALA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 256(2), 37(ii)
Headnote
OF INCOME TAX. BOMBAY v. INDIAN ENGINEERING AND COMMERCIAL CORPN. PVT. LTD. B APRIL 13, I 993 [B.P . .JEEVAN REDDY AND N. VENKA TACHALA, ,J.J.] .. /11"come Tax Act, 1961 :-S. 40(a) (v) 140 (A) (5)-Commission 011 sales in addition to salary paid to Directors at a prescribed percentage C During the relernnt years, D the assessee pain commission on sales in addition to salaQ' to its directors at a prescribed percentage of the sales effected hy the assessee. The Income Tax Officer treated the commission on sales as 'perquisites' and disallowed the same applying section 40 (a)
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