https://www.taxtmi.com/caselaws?id=69624 Section 36(1)(v) permits deduction for contribution to an approved gratuity fund created under an irrevocable trust for the exclusive purpose of providing gratuity benefits. The Fourth Schedule, Part C, Rules 2 and 3, were read as governing the fund's purpose, not limiting contributions to one employer's staff, so a common fund for employees of several companies was not inconsistent with the statute. As the fund's approval remained in force and had not been withdrawn under Rule 2, the Commissioner could not revise the assessment under section 263 on the footing that the allowed deduction was erroneous. The deduction was therefore upheld as allowable. en-us Wed, 27 Jan 1982 00:00:00 +0530 Mon, 11 Apr 2011 11:01:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69624 Section 36(1)(v) permits deduction for contribution to an approved gratuity fund created under an irrevocable trust for the exclusive purpose of providing gratuity benefits. The Fourth Schedule, Part C, Rules 2 and 3, were read as governing the fund's purpose, not limiting contributions to one employer's staff, so a common fund for employees of several companies was not inconsistent with the statute. As the fund's approval remained in force and had not been withdrawn under Rule 2, the Commissioner could not revise the assessment under section 263 on the footing that the allowed deduction was erroneous. The deduction was therefore upheld as allowable. Case-Laws Income Tax Wed, 27 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69624