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1996 (11) TMI 5 - SC - Income TaxApproved superannuation fund is set up only from the contributions made by the employer who is given certain tax benefits in order to encourage the setting up of such superannuation funds. We do not see any reason to strike down any part of the scheme for such a superannuation fund prescribed under the Income-tax Act, 1961, and the Income-tax Rules, 1962 - petition is, therefore, dismissed - Rule 89 is not arbitrary - Rule 91 cannot be considered as giving any unjust gains to the LIC of India.
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