https://www.taxtmi.com/caselaws?id=70141 The Tribunal upheld the Appellate Authority Commissioner's decision to allow the entire gratuity liability claimed by the assessee for the assessment year 1972-73. It ruled that the provision made for gratuity, based on actuarial valuation and considering employees' services for prior years, was a permissible deduction under Section 37. The Tribunal distinguished a Supreme Court ruling cited by the Department, emphasizing the specific nature of the gratuity liability in this case. Consequently, the Tribunal dismissed the Revenue's appeal and affirmed the allowance of the gratuity liability as a permissible deduction. en-us Fri, 31 Dec 1976 00:00:00 +0530 Thu, 14 Apr 2011 15:36:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70141 The Tribunal upheld the Appellate Authority Commissioner's decision to allow the entire gratuity liability claimed by the assessee for the assessment year 1972-73. It ruled that the provision made for gratuity, based on actuarial valuation and considering employees' services for prior years, was a permissible deduction under Section 37. The Tribunal distinguished a Supreme Court ruling cited by the Department, emphasizing the specific nature of the gratuity liability in this case. Consequently, the Tribunal dismissed the Revenue's appeal and affirmed the allowance of the gratuity liability as a permissible deduction. Case-Laws Income Tax Fri, 31 Dec 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70141