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TMI Blog1993 (1) TMI 59X X X X Extracts X X X X X X X X Extracts X X X X ..... 256(1) of the Income-tax Act, 1961, at the instance of the Revenue : "Whether, on the facts and in circumstances of the case, the assessee's claim for deduction of Rs. 70,545 being accrued liability for payment of gratuity (under the Payment of Gratuity Act, 1972, ascertained on actuarial valuation) but for which no provision was made in its accounts maintained on mercantile basis is allowable ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wever, stated that the matter may be remitted to the Tribunal to adjust its order on this issue as the amount of deduction has to be adjusted in the light of certain observations made by the Supreme Court in the said decision. Learned counsel for the Revenue has no objection to the submission made on behalf of the assessee. We would, therefore, remit this issue to the file of the Income-tax Appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o answer this question. As regards the issue raised in question No. 3, the same is covered by the decision of this High Court in the case of CIT v. Colour-Chem Ltd. [1977] 106 ITR 323 and of the Supreme Court in the case of CIT v. Gwalior Rayon Silk Mfg. Co. Ltd. [1992] 196 ITR 149. Both the courts have held that the roads constructed within the factory premises are to be considered as " buildin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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