Held that amount paid to Life Insurance Corporation of India by a company towards group gratuity scheme was an allowable expenditure under section 37(1) even if fund was not approved by Commissioner. (AY. 2006-07)
Kwality Zippers (P.) Ltd. v. DCIT (2022) 197 ITD 762 (Luck) (Trib.)
S. 37(1) : Business expenditure-Amount paid to Life Insurance Corporation of India by a company-Group gratuity scheme-Not approved by Commissioner-Allowable as deduction.