assessee to pay gratuity to its
employees and the appellant arranged for actuarial
determination of its liability. Pending determination of
such an actuarial valuation ... total
liability of Rs. 48,59,431 which was the actuarial
determination of liability on the ground that the provisions
deduction on account of liability for payment of gratuity based on actuarial valuation ?
2. Whether, on the facts and in the circumstances of the case ... first question relates to the deduction of gratuity liability made on actuarial basis. The ITO did not allow the deduction on the ground that there
provisions of the said Act. The assessee-company, therefore, arranged for actuarial determination of its liability for gratuity to its employees. Pending the determination ... such an actuarial valuation, the assessee had made a provision of Rs. 20,00,000 against the total accruing liability till the date
year in which the death or retirement occurs or by actuarial valuation. The appellant has been following the first method."
7. In para ... even the provision made in the subsequent year, is not
on any actuarial basis. No discount has also been made for the present value
entitled to the deduction of the provision of gratuity, if ascertained on actuarial principles, in computing the profit and gains of the assessee ... claim on the ground that the assessee had failed to produce any actuarial computation of its liability for the payment of gratuity. He, however, observed
because the claim was not based on any proper scientific basis or actuarial valuation which was properly proved before him.
2. The learned Counsel ... matter of that company deduction was claimed on the basis of actuarial valuation of the liability. In our opinion, the correct view in the present
payment of gratuity has been made in the balance-sheet on actuarial basis representing a real and definite liability, it could not be treated ... assessee, submitted that the liability for payment of gratuity ascertained on actuarial calculations is a liability which is in praesenti and is capable of ascertainment
case, the CIT [Appeals] erred in taking cognizance of the actuarial report before getting it examined by the expert.
3. On the facts ... circumstances of the case, the CIT [Appeals] erred in replying on the actuarial report which is based on surmises, conjectures and suppositions not supported
appropriation or transfer to gratuity reserve, not based on any actuarial valuation, and, as here, there was also no approved scheme. In those circumstances ... gratuity; (ii) he may avail of the services of an actuary and arrive at an actuarial valuation of the estimated liability, i.e., a fairly
Income-tax Officer disallowed the claim. In appeal, on the basis of actuarial valuation, the assessee restricted the claim ... assessee and held that the claim on the basis of actuarial valuation in the sum of Rs. 2,18,646 is allowable and directed
