Mumbai ITAT Allows Gratuity, Performance Incentives & Foreign Tax Credit

ACIT Vs Thirumalai Chemicals Limited (ITAT Mumbai)

Actual gratuity liability was paid to the retiring employees in just six days, after the end of the relevant year – Allowed by Mumbai ITAT

The Ld.AO disallowed on the ground that the gratuity provisions was created and the same was disallowed amount to Rs.2,13,785/-. But the assessee provided evidence stating that there was no provision made and it is an actual gratuity liability and same was paid to the retiring employees in just six days, after the end of the relevant year. The alleged ground of assessee

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