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TMI Blog2012 (11) TMI 20X X X X Extracts X X X X X X X X Extracts X X X X ..... see, in case, the concerned authority has accorded approval to the gratuity fund, the AO shall decide the issue afresh in accordance with law after providing reasonable opportunity of being heard to the assessee - in favour of assessee for statistical purposes. - ITA No.2432/Ahd/2009 - - - Dated:- 19-10-2012 - Shri, A. Mohan Alankamony, And Shri Kul Bharat, JJ. By Appellant Shri Bhavin J Marfatia, AR By Respondent Shri Rahul Kumar, SR-DR O R D E R PER Kul Bharat, Judicial Member:- This appeal of assessee is directed against the order of Commissioner of Income-tax (Appeals)-VI, Baroda ( CIT(A) for short) dated 01-06-2009 for the assessment year (AY) 2005-06. The assessee has raised the following grounds of app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sions of assessee dismissed the appeal. 3. Now, the assessee came in second appeal before us. 4. At the time of hearing, Ld. AR of the assessee submitted that under the instruction of the assessee ground No.2 is not pressed owing to the smallness of amount involved. In view of this submission of Ld. AR ground No.2 is treated to be not pressed. Therefore, Ground No.2 is dismissed as not pressed. 5. Ground No. 1 is against the confirmation of disallowance of contribution of Rs.7,81,722/- made to the gratuity fund u/s. 40(7) of the Act. Ld. AR submitted that the assessee-company had set up a Heubach Colour Ltd. Employees Group Gratuity-cum-life Assurance (cash accumulation) Scheme and the assessee-company had made a contribution of Rs.7, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llowance of the contribution the fund should have been approved by the competent authority. He submitted that the assessee-company is required to make an application through the AO to the Chief Commissioner, who after examining whether the conditions as mentioned in the Rule-3 of the Part-C to the Schedule-IV of the IT Rules, 1962 and fulfilled the condition would accord the approval. 6. We have heard the rival submissions and perused the materials available on record. It is not rebutted by the Revenue that the assesseeITA company has made application for seeking approval from the competent authority for Heubach Colour Ltd. Employees Group Gratuity-cum-life assurance (Cash Accumulation) Scheme. It is transpired from the paper book submi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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