https://www.taxtmi.com/caselaws?id=405024 The ITAT partially allowed the appellant's appeal regarding the disallowance of the premium amount paid to LIC of India for gratuity liability. The disallowance was restricted to the provision amount, with the ITAT granting relief to the extent of the actual payment made to LIC. The ITAT analyzed Sections 36(1)(v) and 40A(7) of the Income Tax Act, considering control over funds and previous decisions. The appellant's argument that the payment was allowable under Section 43B was dismissed. The ITAT concluded that the appellant's payment to LIC was an allowable expenditure, partially allowing the appeal based on the interpretation of relevant sections and previous decisions. en-us Fri, 12 Feb 2021 00:00:00 +0530 Wed, 10 Mar 2021 08:28:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405024 The ITAT partially allowed the appellant's appeal regarding the disallowance of the premium amount paid to LIC of India for gratuity liability. The disallowance was restricted to the provision amount, with the ITAT granting relief to the extent of the actual payment made to LIC. The ITAT analyzed Sections 36(1)(v) and 40A(7) of the Income Tax Act, considering control over funds and previous decisions. The appellant's argument that the payment was allowable under Section 43B was dismissed. The ITAT concluded that the appellant's payment to LIC was an allowable expenditure, partially allowing the appeal based on the interpretation of relevant sections and previous decisions. Case-Laws Income Tax Fri, 12 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405024