https://www.taxtmi.com/caselaws?id=35070 SC held that payment to Life Insurance Corporation for a Group Gratuity Fund qualified for deduction under section 36(1)(v). The Court ruled that while fiscal statutes are construed strictly, reasonable construction may be applied to effect legislative intent. Because the trust was irrevocable, created exclusively for employees, and the employer had no control over the funds, the statutory conditions were satisfied and the deduction was allowed. en-us Wed, 09 Sep 2009 00:00:00 +0530 Wed, 03 Sep 2025 12:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35070 SC held that payment to Life Insurance Corporation for a Group Gratuity Fund qualified for deduction under section 36(1)(v). The Court ruled that while fiscal statutes are construed strictly, reasonable construction may be applied to effect legislative intent. Because the trust was irrevocable, created exclusively for employees, and the employer had no control over the funds, the statutory conditions were satisfied and the deduction was allowed. Case-Laws Income Tax Wed, 09 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35070