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of <h1>Supreme Court affirms decision on gratuity provision deduction appeal.</h1> <h3>Commissioner of Income-Tax, Bombay Versus Canning Mitra Phoenix Pvt. Limited</h3> The Supreme Court upheld the decision of the Bombay High Court to not refer the case to the Income-tax Appellate Tribunal. The respondent's gratuity ... Respondent claimed a deduction on account of provision made by it towards the gratuity payable to its employees, the amount so claimed being ₹ 49,000 obtained on the basis of an actuarial valuation - Tribunal was right in affirming the order of the Appellate Assistant Commissioner which allowed the claim of the assessee to deduction in respect of its liability towards gratuity The Supreme Court dismissed the appeal against the Bombay High Court's decision to not call for a reference from the Income-tax Appellate Tribunal. The respondent's deduction claim for gratuity provision was allowed by the Appellate Assistant Commissioner and affirmed by the Appellate Tribunal. The High Court rejected the reference application. The Supreme Court upheld the Tribunal's decision, citing a previous case, and dismissed the appeal with costs.
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