https://www.taxtmi.com/caselaws?id=6423 Gratuity liability arising under industrial court awards, to the extent referable to employees' service up to the valuation date, was not deductible in computing net wealth under the Wealth-tax Act, 1957. The issue was governed by Standard Mills Co. Ltd. v. Commissioner of Wealth-tax, which had rejected such deduction. Metal Box Company of India Ltd. v. Their Workmen did not create a conflict because it arose under the Bonus Act and distinguished Standard Mills. On that basis, there was no ground to refer the matter to a larger Bench. en-us Wed, 25 Aug 1971 00:00:00 +0530 Fri, 05 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6423 Gratuity liability arising under industrial court awards, to the extent referable to employees' service up to the valuation date, was not deductible in computing net wealth under the Wealth-tax Act, 1957. The issue was governed by Standard Mills Co. Ltd. v. Commissioner of Wealth-tax, which had rejected such deduction. Metal Box Company of India Ltd. v. Their Workmen did not create a conflict because it arose under the Bonus Act and distinguished Standard Mills. On that basis, there was no ground to refer the matter to a larger Bench. Case-Laws Wealth-tax Wed, 25 Aug 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6423