https://www.taxtmi.com/caselaws?id=70224 The Tribunal ruled in favor of the assessee in an appeal against the CIT's order withdrawing a deduction for gratuity provision under section 263 of the IT Act. The Tribunal found that the provision made by the assessee for an approved gratuity fund was in compliance with the law, meeting the requirements of section 40A(7)(b). It was established that the creation and approval of the fund, along with the payment based on actuarial valuation, were in accordance with the law. Consequently, the Tribunal set aside the CIT's order and upheld the assessment made by the ITO, allowing the appeal in favor of the assessee. en-us Sat, 09 Jan 1982 00:00:00 +0530 Thu, 14 Apr 2011 18:58:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70224 The Tribunal ruled in favor of the assessee in an appeal against the CIT's order withdrawing a deduction for gratuity provision under section 263 of the IT Act. The Tribunal found that the provision made by the assessee for an approved gratuity fund was in compliance with the law, meeting the requirements of section 40A(7)(b). It was established that the creation and approval of the fund, along with the payment based on actuarial valuation, were in accordance with the law. Consequently, the Tribunal set aside the CIT's order and upheld the assessment made by the ITO, allowing the appeal in favor of the assessee. Case-Laws Income Tax Sat, 09 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70224