https://www.taxtmi.com/caselaws?id=24031 The Bombay High Court held that the provision for gratuity amounting to Rs. 43,584 was a legitimate deduction under section 37(1) of the Income-tax Act, 1961 for the assessment year 1972-73. The court ruled that the entire liability, regardless of the period, was attributable to the current year as it arose from a scheme implemented in the previous year. Therefore, the liability based on actuarial valuation was allowed as a deduction, citing relevant case law. The court ruled in favor of the assessee with no order as to costs. en-us Fri, 15 Sep 1989 00:00:00 +0530 Sat, 16 Jan 2010 11:05:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24031 The Bombay High Court held that the provision for gratuity amounting to Rs. 43,584 was a legitimate deduction under section 37(1) of the Income-tax Act, 1961 for the assessment year 1972-73. The court ruled that the entire liability, regardless of the period, was attributable to the current year as it arose from a scheme implemented in the previous year. Therefore, the liability based on actuarial valuation was allowed as a deduction, citing relevant case law. The court ruled in favor of the assessee with no order as to costs. Case-Laws Income Tax Fri, 15 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24031