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1996 (9) TMI 52 - HC - Income TaxExtract: .......atter we are of the opinion that in case a provision is made for payment to the retiring employees in respect of the previous year, it is not necessary that actual payment has to be made. If such amount is earmarked for such payment it has to be allowed. In view of the above, we answer the question in favour of the assessee and against the Revenue.
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