https://www.taxtmi.com/caselaws?id=208997 The High Court ruled in favor of the assessee concerning the provision for pension, disagreeing with the Revenue's disallowance under section 43B of the Income-tax Act, 1961. The court held that the provision for pension did not fall under the funds specified in section 43B(b) and emphasized that the legislative intent was to disallow certain statutory liabilities not discharged. The judgment highlighted that the pension scheme, as an ascertained liability for employee benefits, did not require regular contributions to a fund, ultimately deciding in favor of the assessee on questions related to the pension provision. en-us Thu, 17 Mar 2011 00:00:00 +0530 Thu, 01 Aug 2013 17:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208997 The High Court ruled in favor of the assessee concerning the provision for pension, disagreeing with the Revenue's disallowance under section 43B of the Income-tax Act, 1961. The court held that the provision for pension did not fall under the funds specified in section 43B(b) and emphasized that the legislative intent was to disallow certain statutory liabilities not discharged. The judgment highlighted that the pension scheme, as an ascertained liability for employee benefits, did not require regular contributions to a fund, ultimately deciding in favor of the assessee on questions related to the pension provision. Case-Laws Income Tax Thu, 17 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208997