Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (7) TMI 1413 - AT - Income TaxDisallowance of provision made for payment of Gratuity - Since the payment was not made during the year under consideration, AO disallowed the claim of the assessee - CIT(Appeals) found that the approved Gratuity Fund is covered under Section 40A(7)(b) - HELD THAT:- It is not in dispute that the Gratuity Fund is an approved one. The assessee has also made a provision for payment. Since the provision was made for payment of Gratuity fund, which is an approved one, this Tribunal is of the considered opinion that Section 40A(7)(b) of the Act would come into operation. CIT(Appeals) has rightly allowed the claim of the assessee. This Tribunal do not find any infirmity in the order of the lower authority and accordingly, the same is confirmed. - Decided against revenue.
|