Taking Separate Exemption for Claiming Contribution to Gratuity fund not needed as Approval Granted to Master Trust Applicable to Companies formed by Restructuring: ITAT [Read Order]

Taking Separate Exemption - Exemption - Contribution - Taking Separate Exemption for Claiming Contribution to Gratuity - Gratuity - ITAT - taxscan

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that taking separate exemption for claiming contribution to the gratuity fund was not needed as approval granted to master trust was applicable to companies formed by restructuring. The Principal Commissioner of Income Tax (PCIT) noted from the annual report of the assessee-company Gujarat Urja…

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