1984 (1) TMI 274

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....assessment year 1972-73, the accounting period ended on July 31, 1971. The West Bengal Employees' Payment of Compulsory Gratuity Act, 1971, came into force on June 14, 1971, which created liability on the employer to pay gratuity to its employees. The assessee filed actuarial valuation by Mr. P. K. Ghose, Fellow of the Institute of Actuaries, showing that discounted value of gratuity as on July 31....

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....ls Ltd. [1980] 126 ITR 686 (Cal), following its earlier decision (sic) in the matter of Budge Amalgamated Jute Mills Ltd. v. ITO (decided on February 27, 1976 in Civil Rule No. 4552(W) of 1976). The claim was held to be allowable. At the instance of the Revenue, the Tribunal has referred the following question for the opinion of this court : "Whether, on the facts and in the circumstances of....

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....ot on the view which the assessee might take of its rights nor can the existence or absence of entries in the books of account be decisive or conclusive in the matter. It is not denied that the liability under the West Bengal Employees' Payment of Compulsory Gratuity Act, 1971, was a statutory liability and did not depend upon the circumstance that a particular employer makes provision therefor in....