https://www.taxtmi.com/caselaws?id=15939 The High Court upheld the Tribunal's decision to allow the government-owned corporation's gratuity claim for the pre-nationalisation period. The Tribunal accepted the corporation's explanation and provisions made during the takeover, emphasizing that the provision constituted an appropriation for a known liability. The Court agreed that the corporation had taken over the liability of sick units and justified the deduction, stating that the provision was used to pay employees during the assessment year. The judgment favored the assessee, affirming the Tribunal's decision to allow the gratuity claim despite the compensation for the takeover of sick mills. en-us Thu, 11 Feb 1999 00:00:00 +0530 Mon, 31 Aug 2009 11:02:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15939 The High Court upheld the Tribunal's decision to allow the government-owned corporation's gratuity claim for the pre-nationalisation period. The Tribunal accepted the corporation's explanation and provisions made during the takeover, emphasizing that the provision constituted an appropriation for a known liability. The Court agreed that the corporation had taken over the liability of sick units and justified the deduction, stating that the provision was used to pay employees during the assessment year. The judgment favored the assessee, affirming the Tribunal's decision to allow the gratuity claim despite the compensation for the takeover of sick mills. Case-Laws Income Tax Thu, 11 Feb 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15939