https://www.taxtmi.com/caselaws?id=26258 A provision for gratuity, computed on an actuarial basis and supported by an Industrial Court award, was treated as an allowable deduction under section 37(1) of the Income-tax Act, 1961 because the liability had crystallised by the close of the relevant accounting year. The analysis accepts that, on these facts, nothing showed the deduction was legally impermissible, so the Tribunal's view allowing the claim was held to be correct in law and the deduction was upheld in favour of the assessee. en-us Sat, 02 Nov 1985 00:00:00 +0530 Wed, 03 Feb 2010 17:06:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26258 A provision for gratuity, computed on an actuarial basis and supported by an Industrial Court award, was treated as an allowable deduction under section 37(1) of the Income-tax Act, 1961 because the liability had crystallised by the close of the relevant accounting year. The analysis accepts that, on these facts, nothing showed the deduction was legally impermissible, so the Tribunal's view allowing the claim was held to be correct in law and the deduction was upheld in favour of the assessee. Case-Laws Income Tax Sat, 02 Nov 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26258