https://www.taxtmi.com/caselaws?id=767899 HC held that assessee's contribution to LIC gratuity fund was allowable as deduction under Section 40A(7)(b). Court found that Section 40A(7) overrides Section 43B when conditions are satisfied. Assessee established payments were made to approved gratuity fund through trust deed dated 1978, approved by CIT Tamil Nadu, with variations approved in 1988 extending coverage to subsidiaries. Since identical documentation was accepted for previous and subsequent years, and department did not dispute this position, deduction was allowed in assessee's favor. en-us Mon, 24 Mar 2025 00:00:00 +0530 Thu, 27 Mar 2025 08:36:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767899 HC held that assessee's contribution to LIC gratuity fund was allowable as deduction under Section 40A(7)(b). Court found that Section 40A(7) overrides Section 43B when conditions are satisfied. Assessee established payments were made to approved gratuity fund through trust deed dated 1978, approved by CIT Tamil Nadu, with variations approved in 1988 extending coverage to subsidiaries. Since identical documentation was accepted for previous and subsequent years, and department did not dispute this position, deduction was allowed in assessee's favor. Case-Laws Income Tax Mon, 24 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767899