1990 (9) TMI 64 - HC - Income Tax

Summary

The High Court of Allahabad allowed the deduction of gratuity liability of Rs. 1,50,729 even though no irrevocable trust was created, based on a previous ruling and the accrual of the liability during the relevant year. The Tribunal's decision to allow the deduction under section 37 of the Income-tax Act was upheld.