https://www.taxtmi.com/caselaws?id=2125 The Court ruled in favor of the Assessee regarding the depreciation claimed under Section 115JA of the Income Tax Act, deletion of certain additions in the Profit and Loss Account, and treatment of provision for gratuity as a deductible expense. The Court emphasized that the provision for gratuity is an ascertained liability and allowed deductions for contributions to an approved gratuity fund, overriding other provisions. The appeal was admitted on main questions raised, with readiness to proceed based on substantial legal issues identified, while dismissing other questions by the Revenue. en-us Wed, 07 Nov 2007 00:00:00 +0530 Fri, 01 Aug 2008 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2125 The Court ruled in favor of the Assessee regarding the depreciation claimed under Section 115JA of the Income Tax Act, deletion of certain additions in the Profit and Loss Account, and treatment of provision for gratuity as a deductible expense. The Court emphasized that the provision for gratuity is an ascertained liability and allowed deductions for contributions to an approved gratuity fund, overriding other provisions. The appeal was admitted on main questions raised, with readiness to proceed based on substantial legal issues identified, while dismissing other questions by the Revenue. Case-Laws Income Tax Wed, 07 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2125