Commissioner of Income Tax (Appeals) Grants Relief u/s 40A(7)(b) for Gratuity Fund Contributions and Payments.

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....Applicability of 40A(7) - Given the fact that Section 40A(7)(b) of the Act contemplates deduction in respect of the provision made, not only for the purpose of contribution towards the approved gratuity fund, but equally so for the purpose of payment of gratuity payable during the year, rightly the Commissioner of Income Tax (Appeals) granted the relief. - HC....