JUDGMENT
The Court
1. At the instance of the assessee, the Tribunal referred the following three questions for the opinion of this Court for three assessment years, viz., 1973-74, 1974-75 and 1975-76 under s. 256(1) of the IT Act, 1961 :
“(1) Whether the Tribunal was right in holding that the assessee is not entitled to a deduction of Rs. 18,677 or any part thereof representing pension payment to retired employees of the company in the computation of income for the asst. yr. 1973-74 ?
(2) Whether the Tribunal was right in holding that the assessee is not entitled to a deduction of Rs. 18,216 or any part thereof representing pension payment to retired employees of the company in the computation of income for the asst. yr. 1974-75 ?
(3) Whether the Tribunal was right in holding that the assessee is not entitled to a deduction of Rs. 17,399 or any part thereof representing pension payment to retired employees of the company in the computation of income for the asst. yr. 1975-76 ?”
2. The issue involved in all these three questions is common. The point for consideration is whether the assessee is entitled to deduction of the amount representing pension payment to the retired employees of the company in the computation of income. In the case of the same assessee, this Court in the decision reported in CIT vs. T. Stanes & Co. Ltd. held that such deduction is not possible. This decision of this Court was confirmed by the Supreme Court in the decision reported in T. Stanes & Co. Ltd. vs. CIT . In view of the abovesaid decision rendered in the case of the same assessee, we hold that the Tribunal was correct in holding that the assessee is not entitled to a deduction towards the amount representing payment of pension to the retired employees of the company in the computation of income for the assessment years in question. Accordingly, we answer the questions referred to us in the affirmative and against the assessee. No costs.