High Court denies gratuity liability claim without approved fund under Income-tax Act, following Supreme Court precedent.

The High Court of Bombay ruled in favor of the Revenue, denying the assessee's claim for gratuity liability without an approved gratuity fund under the Income-tax Act, 1961, following the precedent set by the Supreme Court in Shree Sajjan Mills Ltd. v. CIT [1985] 156 ITR 585.

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The High Court of Bombay ruled in favor of the Revenue regarding the allowance of the assessee's claim for gratuity liability without an approved gratuity fund under the Income-tax Act, 1961. The decision was based on the precedent set by the Supreme Court in Shree Sajjan Mills Ltd. v. CIT [1985] 156 ITR 585.

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