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2018 (12) TMI 1454 - AT - Income TaxDisallowance of leave encashment expenses paid to Life Insurance Corporation of India (LIC) - Held that:- Tribunal while deciding the issue has followed the decision in the case of CIT Vs. Textool Co. Ltd.[2009 (9) TMI 66 - SUPREME COURT] and the payment made to LIC was held to be allowable deduction. In absence of any contrary precedent we follow the decision of the Coordinate Bench and accordingly the claim of expenditure on account of payment to LIC for leave encashment scheme policy is allowed. Disallowance of claim of provision for gratuity - Held that:- Payment was made to the LIC against the group gratuity fund policy taken from the LIC then there is no requirement of a separate approval of the fund for allowing the claim U/s 36(1)(v) of the Act. Accordingly, following the earlier decision of this Tribunal, we allow the claim of the assessee and the disallowance made by the authorities below on this account is deleted. - Decided in favour of assessee
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