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2017 (5) TMI 1550 - PUNJAB & HARYANA HIGH COURTAddition on account of Gratuity payable - whether the gratuity fund of the assessee was unapproved and as per Section 40A(7), no provision can be made is allowable when such amount is kept in an unapproved fund? - Held that:- The impugned balance of gratuity payable had been created in the assessment year 2008-09 and the same had been added back in the computation for the said assessment year. The current balance was only a brought forward balance and no such provision had been created during the year under consideration which meant that no such debit had been effected in the profit and loss account for the year under consideration. Thus, the addition made by the Assessing Officer was correctly directed to be deleted. The Tribunal correctly dismissed the appeal filed by the revenue. - Decided in favour of assessee.
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