1992 (3) TMI 62 - SCH - Wealth-tax

Summary

The Supreme Court dismissed the appeals under the Wealth-tax Act, 1957, regarding the deductibility of gratuity liability to employees under the Kerala Industrial Employees (Payment of Gratuity) Act, 1970. The court upheld the decision in the case of Standard Mills Co. Ltd. v. CWT and Bombay Dyeing and Manufacturing Co. Ltd. v. CWT, stating there was no justification for reconsideration. The appeals were dismissed with no order as to costs.