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2010 (11) TMI 125 - HC - Income TaxRectification of mistakes - Exemption u/s 10(10) - Voluntary Retirement Scheme (VRS) - Error apparent on record - Held that: - having regard to the subsequent development viz., the judgment delivered by the honourable Supreme Court in Chandra Ranganathan v. CIT (2009 -TMI - 78651 - SUPREME COURT OF INDIA), which were against the order of the Division Bench of this court, the honourable Supreme Court held that the assessees are entitled to claim exemption under section 10(10C) of the Act. Hence, the matter has been finally decided by the honourable Supreme Court and therefore, the assessees viz., the petitioners herein, are entitled to claim exemption under section 10(10C) of the Income-tax Act and therefore, the order of the respondent, rejecting the applications for rectification of the assessment order set aside. - Decided in favor of assessee.
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