https://www.taxtmi.com/caselaws?id=245777 The court disallowed the deduction claimed by the company for a provision made for service weightage of employees, ruling that it did not qualify as a fund under Section 40A(9) of the Income Tax Act. While the court acknowledged the actuarial valuation method used by the assessee, it held that the provision for service weightage was akin to gratuity and therefore disallowed under Section 40A(7). Consequently, the court allowed the Revenue's appeal, setting aside the Tribunal's decision and disallowing the deduction for the provision for service weightage. en-us Tue, 01 Apr 2014 00:00:00 +0530 Sun, 06 Apr 2014 14:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245777 The court disallowed the deduction claimed by the company for a provision made for service weightage of employees, ruling that it did not qualify as a fund under Section 40A(9) of the Income Tax Act. While the court acknowledged the actuarial valuation method used by the assessee, it held that the provision for service weightage was akin to gratuity and therefore disallowed under Section 40A(7). Consequently, the court allowed the Revenue's appeal, setting aside the Tribunal's decision and disallowing the deduction for the provision for service weightage. Case-Laws Income Tax Tue, 01 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245777