https://www.taxtmi.com/caselaws?id=177683 The Appellate Tribunal upheld the CIT's decision to invoke jurisdiction under section 263 of the Income Tax Act due to the assessing officer's failure to provide a basis for deductions. Additionally, the Tribunal allowed the deduction for the contribution to an unapproved gratuity fund under section 37 of the Act, following precedents establishing the expenditure as wholly and exclusively for business purposes. Consequently, the assessment order was upheld, partially allowing the assessee's appeal. en-us Fri, 24 May 2013 00:00:00 +0530 Fri, 15 Jan 2016 10:55:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177683 The Appellate Tribunal upheld the CIT's decision to invoke jurisdiction under section 263 of the Income Tax Act due to the assessing officer's failure to provide a basis for deductions. Additionally, the Tribunal allowed the deduction for the contribution to an unapproved gratuity fund under section 37 of the Act, following precedents establishing the expenditure as wholly and exclusively for business purposes. Consequently, the assessment order was upheld, partially allowing the assessee's appeal. Case-Laws Income Tax Fri, 24 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177683