https://www.taxtmi.com/caselaws?id=16530 The Tribunal held that the provision for gratuity for the assessment year 1973-74 and the actual payment for 1974-75 were admissible deductions. The provision was allowed under section 40A(7), and the transfer of securities constituted discharge of liability under section 36(1)(v). The Tribunal affirmed that the provision was an actual liability, not merely a provision, and rejected the argument that the payment constituted capital expenditure. The Tribunal's decision favored the assessee on all key issues, resulting in the allowance of the deductions and dismissal of the Revenue's contentions. en-us Wed, 29 Oct 1997 00:00:00 +0530 Tue, 08 Sep 2009 13:21:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16530 The Tribunal held that the provision for gratuity for the assessment year 1973-74 and the actual payment for 1974-75 were admissible deductions. The provision was allowed under section 40A(7), and the transfer of securities constituted discharge of liability under section 36(1)(v). The Tribunal affirmed that the provision was an actual liability, not merely a provision, and rejected the argument that the payment constituted capital expenditure. The Tribunal's decision favored the assessee on all key issues, resulting in the allowance of the deductions and dismissal of the Revenue's contentions. Case-Laws Income Tax Wed, 29 Oct 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16530