https://www.taxtmi.com/caselaws?id=286115 The Tribunal dismissed the Revenue's appeal, upholding the deductibility of the provision for gratuity under section 40A(7)(b) of the Income Tax Act. It concluded that the provision for an approved gratuity fund was an ascertained liability and deductible, emphasizing that section 40A(7)(b) prevails over section 43B, as it allows deductions for contributions to approved gratuity funds. The decision was based on precedents from the Kerala High Court and the Delhi High Court, affirming the Commissioner of Income Tax (Appeals)'s order in favor of the assessee. en-us Fri, 12 Dec 2014 00:00:00 +0530 Thu, 13 Feb 2020 08:13:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286115 The Tribunal dismissed the Revenue's appeal, upholding the deductibility of the provision for gratuity under section 40A(7)(b) of the Income Tax Act. It concluded that the provision for an approved gratuity fund was an ascertained liability and deductible, emphasizing that section 40A(7)(b) prevails over section 43B, as it allows deductions for contributions to approved gratuity funds. The decision was based on precedents from the Kerala High Court and the Delhi High Court, affirming the Commissioner of Income Tax (Appeals)'s order in favor of the assessee. Case-Laws Income Tax Fri, 12 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286115