Livemint

Gratuity tax deduction of 79.25 lakh denied over wrong ITR schedule, ITAT Chennai rules in taxpayers favour

A 79.25 lakh gratuity deduction was initially denied after the taxpayer reported it under the wrong ITR schedule and omitted it from Form 3CD. ITAT Chennai ruled that a genuine Section 43B claim cannot be denied merely because of an inadvertent reporting error.