Section 5(3)(ii) in Karnataka Agricultural Income-Tax Act, 1957

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State of Karnataka - Subsection

Section 5(3)(ii) in Karnataka Agricultural Income-Tax Act, 1957

(ii)in the case of any company, any expenditure which results directly or indirectly in the provision of any remuneration or benefit or amenity to a director or to a person who has a substantial interest in the company or to a relative of the director or of such person, as the case may be, if in the opinion of the [Assistant Commissioner of Agricultural Income-tax] any such expenditure is excessive or unreasonable having regard to the legitimate business needs of the company and the benefit derived by or accruing to it therefrom;]

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State of Karnataka - Subsection

Section 5(3)(ii) in Karnataka Agricultural Income-Tax Act, 1957