Deduction of provision for gratuity was allowable from book profits

KMF Infotech Ltd Vs DCIT (ITAT Bangalore)

Conclusion : Provision for Gratuity was an ascertained liability eligible to be deducted from the net profit for the purpose of computing book profit u/s 115JB of the Income Tax Act.

Held: The only  issue was whether “Please become a Premium member. If you are already a Premium member, login here to access the full content.