https://www.taxtmi.com/caselaws?id=280064 Payment to LIC under a group gratuity insurance scheme is treated as actual business expenditure where the gratuity fund is deemed approved because the approval application remained undecided beyond the statutory period. A 5% estimate of premium collections and forfeited earnest money cannot be brought to tax on conjecture without proper examination of the receipts and the underlying development activity. Interest on delayed premium or instalment payments may retain a business nexus for deduction purposes, and a denial under section 80IA is unsustainable if that business-link finding is not displaced. The Tribunal's order was set aside and the matter remanded for fresh consideration. en-us Mon, 11 Jul 2016 00:00:00 +0530 Fri, 19 Apr 2019 05:57:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280064 Payment to LIC under a group gratuity insurance scheme is treated as actual business expenditure where the gratuity fund is deemed approved because the approval application remained undecided beyond the statutory period. A 5% estimate of premium collections and forfeited earnest money cannot be brought to tax on conjecture without proper examination of the receipts and the underlying development activity. Interest on delayed premium or instalment payments may retain a business nexus for deduction purposes, and a denial under section 80IA is unsustainable if that business-link finding is not displaced. The Tribunal's order was set aside and the matter remanded for fresh consideration. Case-Laws Income Tax Mon, 11 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280064