1993 (9) TMI 65

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.... Tribunal, Ahmedabad, has referred the following question to this court under section 256(1) of the Income-tax Act, 1961 : " Whether, on the facts and in the circumstances of the case, the assessee is entitled to the deduction of gratuity amount of Rs.11,03,902?" The assessee made a provision for gratuity of Rs. 11,09,788 as per the actuarial valuation during the previous year relevant to th....

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....ased liability during the relevant year was approximately Rs. 5,60,000. He, therefore, granted relief to that extent and did not accept the claim of the assessee that the full amount of Rs. 11,09,788 was deductible. Therefore, the assessee preferred an appeal to the Appellate Assistant Commissioner. The appeal was allowed and the Tribunal also confirmed the view taken by the Appellate Assistant Co....