field of Demography, Statistics and the Mathematical Theory of Probability and Actuaries, developed systems which are today very near perfect.
11. First, the present value ... Narsavva, had, in principle, accepted the Actuary's multiplier table method (comprising a methodology in which the actuary takes into account both
gratuity to its employees of Rs. 57,643 on the basis of actuarial calculation supported by a certificate of an actuary. During the relevant assessment ... that liability in respect of gratuity was allowable on the basis of actuarial and scientific calculation. The Appellate Assistant Commissioner accepted the certificate
Company on 12-6-1980.
A reference was made to the Actuary who sent his report on 22-6-1981 in which he stated that ... received by the assessee-company some time thereafter. The Actuary worked out the amount payable to each of the 255 workers in an Annexure
diploma of I.I.I. Mumbai or 5 Subjects of Institute of Actuaries London; and to pass Promotion Test.
2.
A.A.O. as Personal
Pass or exemption in each subject of the Institute of Actuaries, London
2
(viii) Intermediate examination of the Institute of C.A. of India
technical qualification FFII Bombay or 5 subjects of Institute of Actuaries, London[or Actuarial Society of India] [Notified in Gazette of India dated
corpus of the trust properties. This meant, the charge was on the actuarial valuation of the beneficial interests, and not on the market value ... would have to be made on him, one in respect of the actuarial valuation of the life interest of A, which may be, to take
corpus of the trust properties. This meant, the charge was on the actuarial valuation of the beneficial interests and not on the market value ... would have to be made on him, one in respect of the actuarial valuation of the life interest of A, which may be, to take
both the years vide paragraph 8, held that the gratuity liability as actuarially valued was an allowable deduction. He followed his order for the assessment ... held that provision for gratuity based on actuarial valuation was allowable as deduction under the Income
accepting valuation report of M/s. K.A. Pandit, actuaries dated 3-1-1983 in respect of Bombay firm. The said actuaries had also valued ... next contention raised before us which is as per para of the actuaries' report is regarding the income-tax payable by the firm
