JUDGMENT : 1. Having heard learned counsel for the parties in these appeals and with their assistance, without deciding any of the questions of law raised herein, we are of the view that some revision in the Pension Scheme of the company is warranted in the special facts and circumstances of the case. Hence, it would be in the interest of justice to make the following order in substitution of the impugned judgments and orders of the High Court. 2. The Company's scheme for pension for its non-management staff shall be modified only in the manner and to the extent that: 1. With effect from January 1, 1997, the existing employees who retire on or after the said date and who have completed a minimum period of 15 continuous years of service shall be eligible for pension calculated at the rate of Rs. 30/- for each completed years of service or in more than six months in the first and/or last year of service. 2. With effect from January 1, 1997, pension will be raised by Rs. 100/- per month or 15 per cent, whichever is higher, subject to the following minima to existing pensioners of the Company. General Staff : 450/- per month Workers/Sub-staff : Rs. 400/- per month 3. In regard to pensioners of the Company as on date of this order, and who have retired prior to December 31, 1996, the following rate of one time lumpsum payment would be made for the relevant years: Year One time umpsum payment for the said year. 1961 Rs. 1500/- 1962 Rs. 1500/- 1963 Rs. 1500/- 1964 Rs. 1300/- 1965 Rs. 1300/- 1966 Rs. 1300/- 1967 Rs. 1100/- 1968 Rs. 1100/- 1969 Rs. 1100/- 1970 Rs. 900/- 1971 Rs. 900/- 1972 Rs. 900/- 1973 Rs. 800/- 1974 Rs. 800/- 1975 Rs. 800/- 1976 Rs. 700/- 1977 Rs. 700/- 1978 Rs. 700/- 1979 Rs. 600/- 1980 Rs. 600/- 1981 Rs. 600/- 1982 Rs. 600/- 1983 Rs. 600/- 1984 Rs. 600/- 1985 Rs. 500/- 1986 Rs. 500/- 1987 Rs. 500/- 1988 Rs. 500/- 1989 Rs. 500/- 1990 Rs. 500/- 1991 Rs. 400/- 1992 Rs. 400/- 1993 Rs. 400/- 1994 Rs. 400/- 1995 Rs. 400/- 1996 Rs. 400/- 1997 Rs. 700/- 1978 Rs. 700/- 1979 Rs. 600/- 1980 Rs. 600/- 1981 Rs. 600/- 1982 Rs. 600/- 1983 Rs. 600/- 1984 Rs. 600/- 1985 Rs. 500/- 1986 Rs. 500/- 1987 Rs. 500/- 1988 Rs. 500/- 1989 Rs. 500/- 1990 Rs. 500/- 1991 Rs. 400/- 1992 Rs. 400/- 1993 Rs. 400/- 1994 Rs. 400/- 1995 Rs. 400/- 1996 Rs. 400/- 1997 Rs. 400/- The said one time lumpsum payment to the pensioners, as per the table above, would be linked to the year of retirement as under: Year One time umpsum payable to pensioner retiring in corres- ponding year. 1961 Rs. 27,900/- 1962 Rs. 26,400/- 1963 Rs. 24,900/- 1964 Rs. 23,400/- 1965 Rs. 22,100/- 1966 Rs. 20,800/- 1967 Rs. 19,500/- 1968 Rs. 18,400/- 1969 Rs. 17,300/- 1970 Rs. 16,200/- 1971 Rs. 15,300/- 1972 Rs. 14,400/- 1973 Rs. 13,500/- 1974 Rs. 12,700/- 1975 Rs. 11,900/- 1976 Rs. 11,100/- 1977 Rs. 10,400/- 1978 Rs. 9,700/- 1979 Rs. 9,000% 1980 Rs. 8,400/- 1981 Rs. 7,800/- 1982 Rs. 7,200/- 1983 Rs. 6,600/- 1984 Rs. 6,000/- 1985 Rs. 5,400/- 1986 Rs. 4,900/- 1987 Rs. 4,400/- 1988 Rs. 3,900/- 1989 Rs. 3,400/- 1990 Rs. 2,900/- 1991 Rs. 2,400/- 1992 Rs. 2,000/- 1993 Rs. 1,600/- 1994 Rs. 1,200/- 1995 Rs. 800/- 1996 Rs. 400/- 3. In view of the considerable payments to be made by the Company for giving effect to the above, it seems to us necessary to direct that payments made by the Company under this order shall be allowed under Section 43- B of the Income Tax Act, 1961 in the financial year in which payment is made as if the amounts paid are contributions to the Pension Fund. Similarly, the pensioners' liability to tax should be spread over the relevant years under Section 89(1) of the Income Tax Act, 1961, though they would be receiving the one time benefits in lumpsums under our directions. 4. Accordingly, these appeals are disposed of in the above terms with the result that the impugned award of the Tribunal and the judgments and orders of the High Court are set aside. No costs.