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2017 (9) TMI 1585 - AT - Income TaxDisallowance of contribution towards Gratuity Fund(GF)maintained by Life Insurance Corporation (LIC) - Held that:- We find that the assessee was making payment to LIC towards Employees Group cum Life Assurance Scheme after creating a trust deed that it had made an application to the CIT for approval. Thus there is no doubt that payments had been made by the assessee to LIC in a particular Scheme. The granting of approval for a GF is not in the hands of the assessee. It could only make an application and deposit the money. We find that in the case of Baroda Gujarat Gramin Bank similar issue had arisen and the Tribunal referring to the case of Bitoni Lamps Ltd. (2004 (9) TMI 74 - PUNJAB AND HARYANA High Court) as held that if payments towards funds were made no disallowance should be made even if approval was pending and had decided the issue in favour of the assessee
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