Dismissing the appeal of the revenue the Court held that where conditions of approval as seen from clause (3) of Part-C of Schedule IV had been satisfied, its claim for deduction would be allowable though there was delay in granting approval. ( AY.2010-11)
PCIT v. English Indian Clays Ltd. (2018) 253 Taxman 208 (Ker)(HC)
S. 40A(7) : Expenses or payments not deductible – Gratuity -Delay in granting approval- As the condition was satisfied, no disallowances can be made .