https://www.taxtmi.com/caselaws?id=55400 The court held that the assessee, a textile mill company, was not entitled to the deduction of Rs. 20,03,560 claimed as gratuity liability under Section 40A(7) of the Income Tax Act. Despite the actuarial valuation, since no actual provision for gratuity was made in the accounts, the deduction was disallowed. The Commissioner (Appeals) and the Third Member agreed that the claim did not fulfill the conditions of Section 40A(7), leading to the denial of the deduction. The matter was to be decided by the divisional bench based on the majority opinion. en-us Thu, 18 Mar 1982 00:00:00 +0530 Fri, 26 Nov 2010 18:13:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55400 The court held that the assessee, a textile mill company, was not entitled to the deduction of Rs. 20,03,560 claimed as gratuity liability under Section 40A(7) of the Income Tax Act. Despite the actuarial valuation, since no actual provision for gratuity was made in the accounts, the deduction was disallowed. The Commissioner (Appeals) and the Third Member agreed that the claim did not fulfill the conditions of Section 40A(7), leading to the denial of the deduction. The matter was to be decided by the divisional bench based on the majority opinion. Case-Laws Income Tax Thu, 18 Mar 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55400