https://www.taxtmi.com/caselaws?id=25430 The court affirmed the deductibility of provisions made for gratuity based on actuarial estimates before the introduction of Section 40A(7) in the Income-tax Act, 1961. Relying on precedents and principles, the court held in favor of the assessee, Steel Rolling Mills of Bengal Ltd., allowing the deduction for the provision made for gratuity. The court emphasized the relevance of actuarial calculations and legal provisions, including the West Bengal Employees' Payment of Compulsory Gratuity Act, 1971, in determining the deductibility of such provisions. en-us Thu, 11 Jun 1987 00:00:00 +0530 Thu, 28 Jan 2010 15:34:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25430 The court affirmed the deductibility of provisions made for gratuity based on actuarial estimates before the introduction of Section 40A(7) in the Income-tax Act, 1961. Relying on precedents and principles, the court held in favor of the assessee, Steel Rolling Mills of Bengal Ltd., allowing the deduction for the provision made for gratuity. The court emphasized the relevance of actuarial calculations and legal provisions, including the West Bengal Employees' Payment of Compulsory Gratuity Act, 1971, in determining the deductibility of such provisions. Case-Laws Income Tax Thu, 11 Jun 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25430