https://www.taxtmi.com/caselaws?id=23496 The High Court of Kerala clarified that the assessee was entitled to a deduction under section 40A(7)(b)(i) of the Income-tax Act for the provision made for gratuity payment to employees. The court emphasized that the deduction was limited to the provision made by the assessee or the actual payment made during the previous year, not requiring actuarial valuation. The court highlighted that the deduction could not exceed the provision made by the assessee, which was Rs. 3 lakhs in this case. The decision provided clarity on the entitlement to such deductions and addressed confusion regarding the applicable statutory provision. en-us Thu, 07 Dec 1989 00:00:00 +0530 Sat, 19 Dec 2009 16:08:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23496 The High Court of Kerala clarified that the assessee was entitled to a deduction under section 40A(7)(b)(i) of the Income-tax Act for the provision made for gratuity payment to employees. The court emphasized that the deduction was limited to the provision made by the assessee or the actual payment made during the previous year, not requiring actuarial valuation. The court highlighted that the deduction could not exceed the provision made by the assessee, which was Rs. 3 lakhs in this case. The decision provided clarity on the entitlement to such deductions and addressed confusion regarding the applicable statutory provision. Case-Laws Income Tax Thu, 07 Dec 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23496