https://www.taxtmi.com/caselaws?id=28161 The court ruled in favor of the tax authorities, upholding the disallowance of the appellant-company's claim for gratuity in the assessment year 1974-75. The court emphasized that post-April 1, 1973, any gratuity deduction must adhere to the provisions of section 40A(7) of the Income Tax Act, 1961. The court clarified that the provision for gratuity must comply with the requirements of section 40A(7) for deduction, and rejected the appellant's arguments regarding actuarial valuation and provisions in the account books. The court directed the parties to bear their own costs for the reference. en-us Mon, 17 Jan 1983 00:00:00 +0530 Fri, 19 Feb 2010 13:30:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28161 The court ruled in favor of the tax authorities, upholding the disallowance of the appellant-company's claim for gratuity in the assessment year 1974-75. The court emphasized that post-April 1, 1973, any gratuity deduction must adhere to the provisions of section 40A(7) of the Income Tax Act, 1961. The court clarified that the provision for gratuity must comply with the requirements of section 40A(7) for deduction, and rejected the appellant's arguments regarding actuarial valuation and provisions in the account books. The court directed the parties to bear their own costs for the reference. Case-Laws Income Tax Mon, 17 Jan 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28161