1993 (10) TMI 18 - HC - Income Tax

Summary

The High Court of Gujarat ruled in favor of the assessee regarding the deduction for gratuity provision under section 40A(7)(b) of the Income-tax Act, 1961. The Income-tax Appellate Tribunal confirmed that the conditions were satisfied, allowing the deduction of Rs. 62,660. The Tribunal's decision was based on a previous case and was upheld by the court. The judgment was delivered by M. B. Shah J. and question No. 1 was answered in favor of the assessee. Question No. 2 was left unanswered.