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2004 (12) TMI 35 - HC - Income Tax
Compensation received under the voluntary retirement scheme - simultaneous benefit under section 10(10C) and 89(1) - There is no prohibition to the twin benefits in respect of the amount received under the voluntary retirement scheme - Tribunal was right in holding that the assessee is eligible to claim simultaneous benefit under section 10(10C) as well as section 89(1) in respect of the compensation received under the voluntary retirement scheme – Further, it is well settled that if two reasonable interpretations of taxing statutes are possible, the one in favour of the assessee should be accepted