https://www.taxtmi.com/caselaws?id=24139 The High Court of Calcutta ruled in favor of the Revenue, holding that the Income-tax Officer was justified in disallowing the deduction for gratuity where no approved fund existed, as per the retrospective amendment of section 40A(7) of the Income-tax Act, 1961. The Court found that the assessment order needed revision to align with the amended provision, rejecting the Tribunal's view that the order under section 154 was illegal. Justice Bhagabati Prasad Banerjee concurred with the judgment. en-us Mon, 10 Apr 1989 00:00:00 +0530 Sat, 16 Jan 2010 18:38:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24139 The High Court of Calcutta ruled in favor of the Revenue, holding that the Income-tax Officer was justified in disallowing the deduction for gratuity where no approved fund existed, as per the retrospective amendment of section 40A(7) of the Income-tax Act, 1961. The Court found that the assessment order needed revision to align with the amended provision, rejecting the Tribunal's view that the order under section 154 was illegal. Justice Bhagabati Prasad Banerjee concurred with the judgment. Case-Laws Income Tax Mon, 10 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24139