https://www.taxtmi.com/caselaws?id=23111 Gratuity liability arising under an industrial tribunal award and accruing in the relevant assessment year may be recognised on the mercantile system even if quantification occurs later, but deductibility depends on satisfaction of the statutory conditions. The absence of an irrevocable trust, by itself, did not establish entitlement to deduction under section 37 of the Income-tax Act, 1961. On the facts found, the claim was not allowable and the reference was answered in favour of the Revenue, with the assessee held not entitled to the deduction. en-us Thu, 06 Sep 1990 00:00:00 +0530 Wed, 16 Dec 2009 17:42:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23111 Gratuity liability arising under an industrial tribunal award and accruing in the relevant assessment year may be recognised on the mercantile system even if quantification occurs later, but deductibility depends on satisfaction of the statutory conditions. The absence of an irrevocable trust, by itself, did not establish entitlement to deduction under section 37 of the Income-tax Act, 1961. On the facts found, the claim was not allowable and the reference was answered in favour of the Revenue, with the assessee held not entitled to the deduction. Case-Laws Income Tax Thu, 06 Sep 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23111