1988 (12) TMI 11 - HC - Income Tax

Summary

The High Court of Bombay ruled in favor of the Revenue regarding the allowance of the assessee's claim for gratuity liability without an approved gratuity fund under the Income-tax Act, 1961. The decision was based on the precedent set by the Supreme Court in Shree Sajjan Mills Ltd. v. CIT [1985] 156 ITR 585.