Provision of Gratuity after deduction of Actual Gratuity charged to Profit in P/L Account doesn’t attract disallowance u/s 37: ITAT directs AO for fresh Consideration [Read Order]

By Sunayana Dhal - On September 1, 2023 6:30 am - 2 mins read

Provision of Gratuity - deduction of Actual Gratuity charged to Profit in P - L Account - disallowance - ITAT directs AO for fresh Consideration - TAXSCAN

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) held that the provision of gratuity after deduction of the actual gratuity charged to the profit in the profit/ loss account doesn’t attract disallowance under Section 37 of the Income Tax Act, 1961. The assessee has an unproved gratuity fund. The assessee made a provision…

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