1986 (1) TMI 4

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....bay High Court allowing a writ petition filed by the respondent in which he challenged the disallowance of deduction claimed by him. The respondent, which maintains its accounts on the mercantile system, follows the financial year as its accounting period. Up to and including the assessment year 1971-72, the respondent claimed, and was granted, deduction in respect of its liability for gratuity t....

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....nd on its basis, the Income-tax Officer rejected the claim to deduction made by the respondent. A writ petition was filed in the High Court and the High Court has granted relief inasmuch as a writ has been issued directing the Income-tax Officer to allow the gratuity liability as a deduction in computing the assessable income of the respondent, but while considering the actual amount claimed by th....