https://www.taxtmi.com/caselaws?id=20814 The High Court upheld the Appellate Tribunal's decision to allow the deduction of gratuity liability for an unregistered firm for the assessment year 1975-76. The court found that the liability accrued earlier and was integrally connected to the normal course of business operations, making it deductible for income tax purposes. The judgment emphasized the importance of distinguishing between different types of liabilities when assessing deductions. en-us Thu, 18 Feb 1993 00:00:00 +0530 Tue, 17 Nov 2009 13:19:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20814 The High Court upheld the Appellate Tribunal's decision to allow the deduction of gratuity liability for an unregistered firm for the assessment year 1975-76. The court found that the liability accrued earlier and was integrally connected to the normal course of business operations, making it deductible for income tax purposes. The judgment emphasized the importance of distinguishing between different types of liabilities when assessing deductions. Case-Laws Income Tax Thu, 18 Feb 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20814