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2011 (3) TMI 604 - HC - Income TaxDisallowance - on account of pension - Mr. Agarwal contends that in the case before us, the pension scheme created by the resolution of the Board of Directors is not an approved superannuation fund and as such, the same is not entitled to deduction - the liability created by the resolution is although not covered by the instances indicated in Section 36, yet, is definitely of the nature of the liabilities mentioned therein and therefore, being of the same nature, it must conform to those provisions in order to get benefit of such deduction - It is preposterous to suggest that an expenditure of the nature provided in any of the provisions of Sections 30 to 36 of the Act, although not covered by those provisions, would be allowed under the residuary Section - Held that: expenditure in the nature of those mentioned in Sections 30 to 36 but actually not coming within their purview or in excess thereof, cannot get the benefit of Section 37 of the Act - Moreover, even after compliance of the provisions of Section 36 of the Act, an assessee is not entitled to such claim without further complying with the provisions of Section 40A (9) of the Act whether the assessee was entitled to the benefit of Section 37 of the Act in a case where the expenses is in the nature of one mentioned in Section 36 but is not an approved one and at the same time, the deduction of expenses was claimed on the basis of a liability created by a resolution of the board of directors of the company which is capable of being reversed by a subsequent resolution - it is well known, is an authority for what it decides but what necessarily follows from such decision is not to be taken as a precedent - answer the first question in the affirmative and the second one in the negative
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