https://www.taxtmi.com/caselaws?id=26257 Section 40(a)(v) of the Income-tax Act, 1961 was construed as not covering cash gratuity payments made to an employee or director. The provision was read in the context of the earlier statutory scheme, including the omission of section 40(c)(iii) and the insertion of clause (a)(v) by the Finance Act, 1968, and the governing authority held that cash payments fell outside its scope. Accordingly, a cash gratuity payment made for commercial expediency was not disallowable under section 40(a)(v), and the referred question was answered in favour of the assessee. en-us Fri, 01 Nov 1985 00:00:00 +0530 Wed, 03 Feb 2010 17:04:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26257 Section 40(a)(v) of the Income-tax Act, 1961 was construed as not covering cash gratuity payments made to an employee or director. The provision was read in the context of the earlier statutory scheme, including the omission of section 40(c)(iii) and the insertion of clause (a)(v) by the Finance Act, 1968, and the governing authority held that cash payments fell outside its scope. Accordingly, a cash gratuity payment made for commercial expediency was not disallowable under section 40(a)(v), and the referred question was answered in favour of the assessee. Case-Laws Income Tax Fri, 01 Nov 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26257