https://www.taxtmi.com/caselaws?id=29436 The High Court affirmed the Tribunal's decision, allowing the deduction of the provision for gratuity under the West Bengal Payment of Compulsory Gratuity Act, 1971, if ascertained on actuarial principles. The Court emphasized the importance of actuarial principles in determining the allowance of such provisions and directed the Income Tax Officer to verify the actuarial certificate for the deduction. This decision favored the assessee, permitting the deduction of the gratuity provision in computing business profits for the assessment year 1972-73. en-us Tue, 21 Jul 1981 00:00:00 +0530 Fri, 12 Mar 2010 17:38:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29436 The High Court affirmed the Tribunal's decision, allowing the deduction of the provision for gratuity under the West Bengal Payment of Compulsory Gratuity Act, 1971, if ascertained on actuarial principles. The Court emphasized the importance of actuarial principles in determining the allowance of such provisions and directed the Income Tax Officer to verify the actuarial certificate for the deduction. This decision favored the assessee, permitting the deduction of the gratuity provision in computing business profits for the assessment year 1972-73. Case-Laws Income Tax Tue, 21 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29436