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Showing contexts for: turnover decrease in Deputy Commissioner Of Income Tax,, ... vs M/S. Associate Dairy Fab Pvt.Ltd,, ... on 28 February, 2019Matching Fragments
8. Ground No.3 is with respect to excess remuneration paid to Directors at Rs.1,00,00,000/-. The Ld. CIT(A) on this issue has held as under:
"11.2 I have carefully considered the facts of the case and rival contentions. On perusal of the same it has been noticed that the AO has made this addition of Rs.1,00,00,000/- on account of disallowance of directions remuneration stating the following reasons:
1) The remuneration to directors consists of fixed payment and commission calculated on the basis of turnover achieved. In the year under appeal, the turnover of the company has decreased by Rs.2.32 Cr., whereas, the remuneration paid is Rs.1,46,42,106/-, which is excessive and unreasonable.