“Section 197(9)”

Section References (mined)Section 197Section 197(9)2 judgments

MCLEOD RUSSEL INDIA LTD.,KOLKATA vs. PCIT - 2, KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

ITA 984/KOL/2024[2016-2017]Status: DisposedITAT Kolkata12 Sept 2024AY 2016-2017

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm]

Section 143(1)Section 144BSection 147Section 148Section 148(2)Section 197(9)Section 263Section 263(2)Section 37(1)

IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, KOLKATA [Before Shri Rajesh Kumar, AM & Shri Pradip Kumar Choubey, JM] I.T.A

NDTV WORLDWIDE LTD,NEW DELHI vs. DCIT 18(1), NEW DELHI

ITA 1180/DEL/2019[2014-15]Status: DisposedITAT Delhi29 Jul 2024AY 2014-15

Bench: Shri G.S. Pannu & Shri Anubhav Sharmandtv Worldwide Ltd, Vs. Dcit, Okhla Industrial Estate, Circle-18(1), Phase-Ii, New Delhi New Delhi (Appellant) (Respondent) Pan: Aaccn9121G

For Appellant: Shri Rohit Tiwari, Ms Tanya &For Respondent: Shri Sandeep K Mishra &

Section 1Section 142Section 143Section 143(3)Section 2Section 3

Then it can be appreciated that as far as excess remuneration is concerned the Directors have liability to refund excess remuneration and Section 197(9) of the Companies Act 2013 stipulates that if any director draws or receives, directly or indirectly, by way of remuneration any such sums in excess