1985 (11) TMI 34 - HC - Income Tax

Summary

The High Court of Madhya Pradesh upheld the deduction of Rs. 1,34,000 for provision of gratuity as allowable expenditure under section 37(1) of the Income-tax Act, 1961. The deduction was based on an actuary's calculation and an Industrial Court award. The Tribunal's decision in favor of the assessee was deemed justified. The Revenue's appeal was dismissed, and no costs were awarded.