https://www.taxtmi.com/caselaws?id=36065 The court held that the gratuity payments made by the assessee-bank were deductible expenditures under section 37(1) of the Income Tax Act, 1961. The court found that the payments were made in the course of carrying on the business, not merely as terminal payments on closure. Therefore, the court ruled in favor of the assessee, allowing the deduction of the gratuity payments and awarded costs to the assessee. en-us Thu, 28 Jun 1979 00:00:00 +0530 Fri, 19 Mar 2010 11:38:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36065 The court held that the gratuity payments made by the assessee-bank were deductible expenditures under section 37(1) of the Income Tax Act, 1961. The court found that the payments were made in the course of carrying on the business, not merely as terminal payments on closure. Therefore, the court ruled in favor of the assessee, allowing the deduction of the gratuity payments and awarded costs to the assessee. Case-Laws Income Tax Thu, 28 Jun 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36065