Shanti Prime Publication Pvt. Ltd.
Sec. 263 of Income Tax Act, 1961— Revision — Payment made to LIC of India is not a provision but it is actual expenditure claimed under the gratuity contribution, which needs to be allowed as deduction, therefore, the order passed by the AO u/s.143(3) was not erroneous and prejudicial to the interest of Revenue, thus, Pr.CIT is not justified in directing the AO to disallow the payment made to gratuity fund u/s.40A(7), hence, the order passed by the Pr.CIT u/s.263 of the Act is hereby quashed. - ORICLEAN PRIVATE LIMITED V/s PR. CIT -  28 ITCD Online 027 (ITAT-CUTTACK)