Held that the assessee maintained regular books of account and his books of account were audited under section 44AB. Since there was no restriction under law for appointing consultant/professional as managing director, merely because assessee worked as managing director, said professional fee could not be treated as salary. (AY. 2013-14)
Jayaram Rangan. v. ACIT (2022) 194 ITD 666 (Chennai)(Trib.)
S. 15 : Salaries-Managing director-Professional fees cannot be assessed as salary. [S. 28(i), 44AB, 194J]