https://www.taxtmi.com/caselaws?id=405064 The appeal involved a dispute over the disallowance made under section 36(1)(v) of the Act. The Tribunal ruled in favor of the assessee, a private limited company engaged in manufacturing steel flanges, stating that the delay in approval for the payment made to LIC Gratuity Fund was not the assessee's fault. Citing a similar case, the Tribunal held that the deduction should not be denied due to delays in approval, attributing the delay to Revenue's inaction. Consequently, the assessee was allowed to claim the deduction, and the Assessing Officer was directed to permit the deduction for the relevant year. en-us Fri, 05 Feb 2021 00:00:00 +0530 Thu, 11 Mar 2021 09:14:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405064 The appeal involved a dispute over the disallowance made under section 36(1)(v) of the Act. The Tribunal ruled in favor of the assessee, a private limited company engaged in manufacturing steel flanges, stating that the delay in approval for the payment made to LIC Gratuity Fund was not the assessee's fault. Citing a similar case, the Tribunal held that the deduction should not be denied due to delays in approval, attributing the delay to Revenue's inaction. Consequently, the assessee was allowed to claim the deduction, and the Assessing Officer was directed to permit the deduction for the relevant year. Case-Laws Income Tax Fri, 05 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405064