1992 PLP 1070 (PTD)
COMMISSIONER OF INCOME-TAX Versus PETROLEUM AND MINERALS P. LTD.
| Citation | 1992 PLP 1070 (PTD) |
| Forum / Court | Bombay High Court (India) |
| Bench Members | S.P. Bharucha and T.D. Sugla, JJ |
| Parties | COMMISSIONER OF INCOME-TAX Versus PETROLEUM AND MINERALS P. LTD. |
| Primary Law | Income-tax |
Q1: What are the key laws and sections cited in 1992 PLP 1070 (PTD)?
This judgment primarily cites: Income-tax as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 1992 PLP 1070 (PTD)?
The case was heard and decided by the Bombay High Court (India) bench comprising: S.P. Bharucha and T.D. Sugla, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 1992 PLP 1070 (PTD) (COMMISSIONER OF INCOME-TAX Versus PETROLEUM AND MINERALS P. LTD.). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- 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.
Headnotes / Summary
Remuneration to employees
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. 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.
Judgment & Decree
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 was right in allowing the assessee's claim for gratuity liability of Rs.77,760 notwithstanding the fact that the assessee did not have an approved gratuity fund under the Income Tax Act, 1961?" Counsel are agreed that the question must be answered in the negative and in favour of the Revenue in the light of the judgment of the Supreme Court in Shree Sajjan Mills Ltd. v. CIT (1985) 156 ITR
585. The question is so answered, No order as to costs. M.BA./1581/T Reference answered