1993 (9) TMI 65

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..... ction 256(1) of the Income-tax Act, 1961 : " Whether, on the facts and in the circumstances of the case, the assessee is entitled to the deduction of gratuity amount of Rs.11,03,902?" The assessee made a provision for gratuity of Rs. 11,09,788 as per the actuarial valuation during the previous year relevant to the assessment year 1973-74. The assessee's relevant accounting period ended on Dec .....

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..... fore, granted relief to that extent and did not accept the claim of the assessee that the full amount of Rs. 11,09,788 was deductible. Therefore, the assessee preferred an appeal to the Appellate Assistant Commissioner. The appeal was allowed and the Tribunal also confirmed the view taken by the Appellate Assistant Commissioner. The Revenue, therefore, moved the Tribunal for referring the abovesai .....

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..... aluation was Rs. 11,03,902 and not Rs. 11,09,788. We are of the view that the Tribunal rightly confirmed the view taken by the Appellate Assistant Commissioner and dismissed the appeal filed by the Revenue. For the reasons stated above, the question is answered in the affirmative, that is, against the Revenue and in favour of the assessee. Reference is disposed of accordingly. No order as to cos .....

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