1989 (6) TMI 49 - HC - Income Tax

Summary

The High Court of Kerala ruled against the assessee in a case regarding deduction of gratuity payment under section 36(1)(v) of the Income-tax Act. The Income-tax Appellate Tribunal's decision was overturned, stating that deduction cannot be allowed under any other section after the insertion of section 40A. The court held that the assessee did not fulfill the conditions laid down in section 40A for claiming the deduction. The question of law was answered in the negative, in favor of the Revenue. The judgment was forwarded to the Income-tax Appellate Tribunal, Cochin Bench.