1992 (10) TMI 39

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..... ed the following question to this court under section 256(1) of the Income-tax Act, 1961 "1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that the assessee was entitled to deduction of the entire amount of Rs. 25,47,829 even though on actuarial basis the assessee's liability towards payment of gratuity fund arose during the previo .....

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..... ty Act that the assessee became liable to pay Rs. 25,47,829 by way of gratuity to its employees. Therefore, following the said decision, it will have to be held that the Tribunal was right in holding that the assessee became entitled to the deduction of the entire amount of Rs. 25,47,829 even though, on actuarial basis, the assessee's liability towards payment of gratuity during the previous year .....

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