1995 (8) TMI 46

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....ed counsel for the assessee, and Sri R. K. Agarwal, learned counsel for the Revenue. The Income-tax Appellate Tribunal has made this reference to this court under section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), for deciding the following common questions of law arising out of its order in I. T. A. Nos. 2867 to 2869/(Del) of 1978-79, dated December 30, 1978 : ....

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....at standard deduction undersection 16 of the Act is deductible from the income of pension or not. A bare perusal of section 17(1)(ii) of the Act will reveal that the salary includes... "any annuity or pension". So it is abundantly clear that the assessee is entitled to have standard deduction in the income arising out of the pension. From a perusal of sections 16 and 17 of the Act it is abundantly....