Expenses towards provision for pension fund allowable as expenses

ACIT Vs Punjab & Sind Bank (ITAT Delhi) The issue in the present ground is with respect to the disallowance of contribution to Punjab & Sind Bank Employees Pension Fund Trust under Section 36(1)(iv) of the Act r.w. Rule 87 & 88 of the Income Tax Rule, 1962. We find that identical issue arose before the Co-ordinate Bench of Tribunal in assessee’s own case for A.Y. 2013-14 and the Co­ordinate Bench of Tribunal deleted the addition by following the order in assessee’s own case for A.Y. 2011-12 & 2012-13. The relevant observation of the Co-ordinate Bench reads as under: “15....