https://www.taxtmi.com/caselaws?id=206534 The Court upheld the Tribunal's decision, denying the deduction of Rs.1,43,35,000/- for unfunded actuarial liability on pension due to it not being from an approved fund. The Court emphasized that only specific deductions under the Income-tax Act are allowed, highlighting potential abuse if deductions were granted for unapproved schemes. The liability created by the resolution did not meet the criteria for deduction under Sections 30 to 36 or Section 37. The Court rejected arguments for broader allowances under Section 37, affirming the restrictions in Sections 30 to 36 and dismissing the appeal. en-us Tue, 01 Mar 2011 00:00:00 +0530 Wed, 01 Jul 2026 18:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206534 The Court upheld the Tribunal's decision, denying the deduction of Rs.1,43,35,000/- for unfunded actuarial liability on pension due to it not being from an approved fund. The Court emphasized that only specific deductions under the Income-tax Act are allowed, highlighting potential abuse if deductions were granted for unapproved schemes. The liability created by the resolution did not meet the criteria for deduction under Sections 30 to 36 or Section 37. The Court rejected arguments for broader allowances under Section 37, affirming the restrictions in Sections 30 to 36 and dismissing the appeal. Case-Laws Income Tax Tue, 01 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206534