https://www.taxtmi.com/caselaws?id=58728 A provision for an initial contribution to an approved gratuity fund, when actuarially determined and payable during the year, remained deductible despite non-payment, because section 40A(7) did not bar a liability falling within the approved fund exception and section 36(1)(v) applied. On surtax computation, doubtful advances, provision for doubtful debts, and excess provision for taxation were treated as includible in the capital base on the strength of binding precedent. A deduction allowed under section 80M did not justify a corresponding reduction of capital base under rule 4 of the Second Schedule to the Companies (Profits) Surtax Act. The Revenue's appeals therefore failed. en-us Fri, 24 Apr 1981 00:00:00 +0530 Tue, 21 Dec 2010 17:14:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58728 A provision for an initial contribution to an approved gratuity fund, when actuarially determined and payable during the year, remained deductible despite non-payment, because section 40A(7) did not bar a liability falling within the approved fund exception and section 36(1)(v) applied. On surtax computation, doubtful advances, provision for doubtful debts, and excess provision for taxation were treated as includible in the capital base on the strength of binding precedent. A deduction allowed under section 80M did not justify a corresponding reduction of capital base under rule 4 of the Second Schedule to the Companies (Profits) Surtax Act. The Revenue's appeals therefore failed. Case-Laws Income Tax Fri, 24 Apr 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58728