https://www.taxtmi.com/caselaws?id=70471 The Tribunal upheld the first appellate authority's decision, allowing the company's incremental liability towards gratuity, determined on an actuarial basis, as a deduction under relevant sections of the Income Tax Act. The Tribunal emphasized that such incremental liabilities, even without specific provision in the accounts, are deductible under the mercantile system of accounting, as long as statutory conditions are met. The appeals challenging the allowance of incremental liability were dismissed, affirming the deduction eligibility of the incremental liability exceeding insurance premia. en-us Tue, 30 Mar 1982 00:00:00 +0530 Sat, 16 Apr 2011 13:17:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70471 The Tribunal upheld the first appellate authority's decision, allowing the company's incremental liability towards gratuity, determined on an actuarial basis, as a deduction under relevant sections of the Income Tax Act. The Tribunal emphasized that such incremental liabilities, even without specific provision in the accounts, are deductible under the mercantile system of accounting, as long as statutory conditions are met. The appeals challenging the allowance of incremental liability were dismissed, affirming the deduction eligibility of the incremental liability exceeding insurance premia. Case-Laws Income Tax Tue, 30 Mar 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70471