https://www.taxtmi.com/caselaws?id=419677 Contribution to an LIC-administered group gratuity scheme was treated as deductible where the insurer controlled the fund and gratuity was paid directly to eligible employees or their beneficiaries. The absence of formal approval of the gratuity fund did not defeat deduction because the employer retained no control over the irrevocable fund created exclusively for employees' benefit. On that construction of section 36(1)(v) of the Income-tax Act, the payment satisfied the statutory purpose and was allowable as a business deduction. en-us Fri, 11 Mar 2022 00:00:00 +0530 Thu, 17 Mar 2022 08:34:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419677 Contribution to an LIC-administered group gratuity scheme was treated as deductible where the insurer controlled the fund and gratuity was paid directly to eligible employees or their beneficiaries. The absence of formal approval of the gratuity fund did not defeat deduction because the employer retained no control over the irrevocable fund created exclusively for employees' benefit. On that construction of section 36(1)(v) of the Income-tax Act, the payment satisfied the statutory purpose and was allowable as a business deduction. Case-Laws Income Tax Fri, 11 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419677