Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
The ITAT Kolkata addressed the disallowance of contribution to LIC Group Gratuity Scheme u/s. 36(1)(v) and the alternative claim u/s. 37(1). The Tribunal noted the delay in approval of the gratuity fund application by the assessee, despite fulfilling requirements since 2002. The approval was eventually granted in 2023, with retrospective effect. The Tribunal considered Rule 5 of Part C of the 4th Schedule, treating gratuity fund as salary for the employee, and applied the principle of reasonable construction to allow the deduction u/s. 37(1) based on prior approvals and compliance efforts. The Tribunal allowed the assessee's claim, emphasizing adherence to statutory provisions and past approvals.
The ITAT Kolkata addressed the disallowance of contribution to LIC Group Gratuity Scheme u/s. 36(1)(v) and the alternative claim u/s. 37(1). The Tribunal noted the delay in approval of the gratuity fund application by the assessee, despite fulfilling requirements since 2002. The approval was eventually granted in 2023, with retrospective effect. The Tribunal considered Rule 5 of Part C of the 4th Schedule, treating gratuity fund as salary for the employee, and applied the principle of reasonable construction to allow the deduction u/s. 37(1) based on prior approvals and compliance efforts. The Tribunal allowed the assessee's claim, emphasizing adherence to statutory provisions and past approvals.
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