TMI Blog2018 (12) TMI 1913X X X X Extracts X X X X X X X X Extracts X X X X ..... t trust which is according to the standard format with life insurance Corp of India. In such circumstances, we do not inclined to uphold the disallowances made by the lower authorities despite the fact that approval has not been granted to the gratuity trust of the assessee as per the standard deed entered into with life insurance Corp of India. We set aside this ground of appeal back to the file of the learned assessing officer with a direction to the learned AO and the concerned CIT to examine the application of the assessee and if it is found in accordance with the law to grant the registration so that assessee can get the deduction of the expenditure which assessee is rightfully incurring for the gratuity of the employees of the comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee has paid a sum of INR 3 46000/ towards gratuity fund with life insurance Corp of India. However, the fund for its employee has not been approved in the relevant year under consideration by the Commissioner of income tax. He held that it is 1 of the mandatory conditions to allow deduction under the provisions of the act. As there is no accrual granted by the Commissioner of income tax, he confirmed the disallowance. However, the assessee contested before him that the correct some for deduction to be disallowed is only INR 300,000 and not INR 3 46000/ . To that extent, he remitted the matter back to the learned assessing officer to determine the correct amount of disallowance. 4. The learned authorised representative submitted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have been placed on record before us submitted to the principal Commissioner of income tax. However, till to date the above trust has not been registered. In such peculiar circumstances where assessee has already done what he could have done and still facing disallowance for no approval of the about trust which is according to the standard format with life insurance Corp of India. In such circumstances, we do not inclined to uphold the disallowances made by the lower authorities despite the fact that approval has not been granted to the gratuity trust of the assessee as per the standard deed entered into with life insurance Corp of India. We set aside this ground of appeal back to the file of the learned assessing officer with a direction ..... X X X X Extracts X X X X X X X X Extracts X X X X
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