1995 (10) TMI 12

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....estions for the opinion of this court for three assessment years, viz., 1973-74, 1974-75 and 1975-76 under section 256(1) of the Income-tax Act, 1961 : " (1) Whether the Tribunal was right in holding that the assessee is not entitled to a deduction of Rs. 18,677 or any part thereof representing pension payment to retired employees of the company in the computation of income for the assessment y....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of the same assessee, this court in the decision reported in CIT v. T. Stanes and Co. Ltd. [1976] 105 ITR 251 held that such deduction is not possible. This decision of this court was confirmed by the Supreme Court in the decision reported in T. Stanes and Co. Ltd. v. CIT [1991] 188 ITR 237. In view of the abovesaid decision rendered in the case of the same assessee, we hold that the Tribunal was ....