| Citation(s) |
|---|
| 1992 SLG 166 1992 SLD 166 1992 PTD 1070 (1991) 187 ITR 560 (1985) 52 TAX 161 |
Bombay High Court
Income-tax Reference No.336 of 1976, decision dated: 20-12-1988
S.P. BHARUCHA AND T.D. SUGLA, JJ
Dr. V. Balasubramanian with S.V. Naik and K.C Sidhwa, Advocates for the Commissioner. V.J. Pandit and I.V. Pandit Advocates for the Assessee
Income-tax Reference No.336 of 1976, decision dated: 20-12-1988
S.P. BHARUCHA AND T.D. SUGLA, JJ
Dr. V. Balasubramanian with S.V. Naik and K.C Sidhwa, Advocates for the Commissioner. V.J. Pandit and I.V. Pandit Advocates for the Assessee
COMMISSIONER OF IncomE tax
VS
PETROLEUM AND MINERALS P. LTD
Law: Income Tax Act, 1922
Section:
Income-tax---Business expenditure----Remuneration to employees ---Gratuity---Assessee not having approved gratuity fund---Gratuity liability not deductible. Held, that since the assessee did not have an approved gratuity fund, the assessee's gratuity liability was not deductible as business expenditure. Shree Saban Mills Ltd'v. CIT [1985] 156 ITR 585 (SC) fol. JUDGMENT S.P. BHARUCHA, J.---The only question to be considered at the instance of the Revenue reads thus: "Whether on .the facts and in the circumstances of the case, the Tribunal…
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