Pre-1972 Gratuity Valuation Ruling: Assessee Prevails, No Costs Awarded

The Bombay HC ruled in favor of the assessee regarding gratuity liability determined on actuarial valuation pre-March 31, 1972, citing a previous court ruling. The reference was disposed of with no order as to costs.

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The Bombay High Court ruled in favor of the assessee regarding the gratuity liability determined on actuarial valuation for the period prior to March 31, 1972. The decision was based on a previous court ruling in CIT v. Tata Hydro Electric Supply Co. Ltd. The reference was disposed of with no order as to costs.

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