https://www.taxtmi.com/caselaws?id=28539 The High Court of Madhya Pradesh upheld the decision of the Income-tax Appellate Tribunal regarding the disallowance of the assessee-company's claim for gratuity amounting to Rs. 10,03,920 for the assessment year 1973-74. The Court found that the conditions for the deduction were not fulfilled under section 40A(7) of the Income-tax Act, 1961. Additionally, the Court ruled that the assessee was liable for payment of interest under section 215 of the Act. The Court directed the parties to bear their own costs in the reference. en-us Fri, 02 Jul 1982 00:00:00 +0530 Tue, 23 Feb 2010 15:19:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28539 The High Court of Madhya Pradesh upheld the decision of the Income-tax Appellate Tribunal regarding the disallowance of the assessee-company's claim for gratuity amounting to Rs. 10,03,920 for the assessment year 1973-74. The Court found that the conditions for the deduction were not fulfilled under section 40A(7) of the Income-tax Act, 1961. Additionally, the Court ruled that the assessee was liable for payment of interest under section 215 of the Act. The Court directed the parties to bear their own costs in the reference. Case-Laws Income Tax Fri, 02 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28539