https://www.taxtmi.com/caselaws?id=13382 The court ruled in favor of the assessee regarding the deduction of additional liability for gratuity under Section 40A(7) of the Income Tax Act, allowing the claim for the additional liability for gratuity. Additionally, the court ruled in favor of the assessee for the deduction of provision for gratuity for prior years under Section 36(1)(v), allowing the claims for gratuity provisions for 1976 and prior years. However, the court sided with the Revenue on the taxability of gain in foreign exchange as revenue income, concluding that the gain should be included in the taxable income of the assessee. en-us Fri, 25 Aug 2006 00:00:00 +0530 Thu, 28 May 2009 16:06:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13382 The court ruled in favor of the assessee regarding the deduction of additional liability for gratuity under Section 40A(7) of the Income Tax Act, allowing the claim for the additional liability for gratuity. Additionally, the court ruled in favor of the assessee for the deduction of provision for gratuity for prior years under Section 36(1)(v), allowing the claims for gratuity provisions for 1976 and prior years. However, the court sided with the Revenue on the taxability of gain in foreign exchange as revenue income, concluding that the gain should be included in the taxable income of the assessee. Case-Laws Income Tax Fri, 25 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13382