https://www.taxtmi.com/caselaws?id=55827 The Tribunal allowed the assessee's claim for deduction of gratuity based on actuarial valuation, stating that the assessee followed the mercantile system of accounting and had no provision for gratuity, thus unaffected by Section 40A(7). The Tribunal emphasized that gratuity payment liability was statutory under the Payment of Gratuity Act, 1972, and accrued under the mercantile system. Consequently, the appeal was allowed, and the deduction of gratuity liability was accepted. en-us Thu, 20 Apr 1978 00:00:00 +0530 Tue, 30 Nov 2010 13:07:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55827 The Tribunal allowed the assessee's claim for deduction of gratuity based on actuarial valuation, stating that the assessee followed the mercantile system of accounting and had no provision for gratuity, thus unaffected by Section 40A(7). The Tribunal emphasized that gratuity payment liability was statutory under the Payment of Gratuity Act, 1972, and accrued under the mercantile system. Consequently, the appeal was allowed, and the deduction of gratuity liability was accepted. Case-Laws Income Tax Thu, 20 Apr 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55827