Search Results Page

Search Results

1 - 10 of 20 (0.34 seconds)
Shree Sajjan Mills Ltd vs Commissioner Of Income Tax, M.P. Bhopal ... on 8 October, 1985 cites

Peoples Engineering & Motor Works Ltd. vs Commissioner Of Income-Tax on 4 August, 1980

The aforesaid difficulties in accepting the contentions urged on behalf of the assessee were highlighted by the Calcutta High Court in the case of Peoples Engineering & Motor Works Ltd. v Commissioner of Income-Tax West Bengal- II, (supra). It was pointed out that payment of gratuity was a statutory liability created under the Payment of Gratuity Act, 1972. It could normally be said to have arisen for the carrying on of business. However, for gratuity to be deductible under the Act, must fulfil the conditions laid down in section 40A(7). The deduction could not be allowed on general principles under any other section of the Act because sub-section (1) of section 40A makes it clear that the provisions of the section shall have effect notwith standing anything to the contrary contained in any other provision of the Act relating to the computation of income under the head "Profits and gains of business or profession"
Calcutta High Court Cites 20 - Cited by 7 - S Mukharji - Full Document

Mental Box Co. Of India Ltd vs Their Workmen on 20 August, 1968

The submission of the assessee is that if no provision is made by the assessee for gratuity, still the same will be 613 deductible and section 40A(7) will have no application, would defeat the very purpose and object of section 40A(7) and render it nugatory. The interpretation as suggested by the assessee would entitle the assessee who made no provision to claim deduction whereas an assessee who made a provision would not get deduction unless the requirements laid down in the sub-section are fulfilled.
Supreme Court of India Cites 47 - Cited by 433 - J M Shelat - Full Document
1   2 Next