1985 (6) TMI 13 - HC - Income Tax

Summary

The High Court of Calcutta ruled that a provision for gratuity of Rs. 80,000 was not an allowable deduction for the assessment year 1971-72 as there was no statutory liability at that time. The decision of the Income-tax Officer and the Appellate Assistant Commissioner was upheld, stating that the deduction could be claimed in the year the statute came into force.