https://www.taxtmi.com/caselaws?id=36361 The High Court ruled in favor of the assessee, allowing the entire amount claimed for deduction of initial contribution towards gratuity under the approved scheme for the assessment year 1964-65. The Court held that the contribution did not exceed the prescribed limit set by Rule 104, which specifies a maximum limit of 8 1/3% of the employee's salary for each year of past service. Additionally, the Court affirmed that any excess contribution made by the assessee for business purposes is allowable under the Income Tax Act. en-us Fri, 09 Jan 1981 00:00:00 +0530 Mon, 22 Mar 2010 10:12:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36361 The High Court ruled in favor of the assessee, allowing the entire amount claimed for deduction of initial contribution towards gratuity under the approved scheme for the assessment year 1964-65. The Court held that the contribution did not exceed the prescribed limit set by Rule 104, which specifies a maximum limit of 8 1/3% of the employee's salary for each year of past service. Additionally, the Court affirmed that any excess contribution made by the assessee for business purposes is allowable under the Income Tax Act. Case-Laws Income Tax Fri, 09 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36361