https://www.taxtmi.com/caselaws?id=15653 The Tribunal ruled in favor of the assessee, holding that contributions to provident fund, pension fund, and gratuity payments are not includible under section 40(c). It was also determined that the premium paid for the LIC policy does not constitute a benefit to the director. Furthermore, the payment of gratuity to employees from the amalgamated company was deemed allowable as a business expenditure. The Tribunal rejected the Revenue's argument of double deduction, emphasizing that there was no double deduction as the liability was transferred to the assessee-company through amalgamation. The decision was in favor of the assessee, answering the legal questions against the Revenue. en-us Wed, 24 Dec 1997 00:00:00 +0530 Wed, 26 Aug 2009 16:56:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15653 The Tribunal ruled in favor of the assessee, holding that contributions to provident fund, pension fund, and gratuity payments are not includible under section 40(c). It was also determined that the premium paid for the LIC policy does not constitute a benefit to the director. Furthermore, the payment of gratuity to employees from the amalgamated company was deemed allowable as a business expenditure. The Tribunal rejected the Revenue's argument of double deduction, emphasizing that there was no double deduction as the liability was transferred to the assessee-company through amalgamation. The decision was in favor of the assessee, answering the legal questions against the Revenue. Case-Laws Income Tax Wed, 24 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15653