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TMI Blog2017 (5) TMI 1550X X X X Extracts X X X X X X X X Extracts X X X X ..... d balance of gratuity payable had been created in the assessment year 2008-09 and the same had been added back in the computation for the said assessment year. The current balance was only a brought forward balance and no such provision had been created during the year under consideration which meant that no such debit had been effected in the profit and loss account for the year under considerati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the facts and in the circumstances of the case, the Hon ble ITAT has erred in deleting the addition of ₹ 14,94,648/- made by the Assessing Officer on account of Gratuity payable without appreciating the fact that the gratuity fund of the assessee was unapproved and as per Section 40A(7) of the Income Tax Act, 1961, no provision can be made is allowable when such amount is kept in an unappr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated 28.03.2017, Annexure A.1. Aggrieved by the order, the assessee filed an appeal before the Commissioner of Income Tax (Appeals) [CIT(A)]. Vide order dated 08.05.2014, Annexure A.2, the CIT(A) deleted the addition of ₹ 14,94,648/-. Not satisfied with the order, the revenue filed an appeal before the Tribunal. Vide order dated 28.03.2013, Annexure A.3, the Tribunal confirmed the order pass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r consideration. Thus, the addition made by the Assessing Officer was directed to be deleted. After examining, the matter and perusing the findings recorded by the authorities below. The Tribunal concurred that the gratuity payable related to the assessment year 2008-09 which was added in the computation for the said assessment year. While concurring with the findings recorded by the CIT(A). The T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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