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2011 (4) TMI 469 - PUNJAB AND HARYANA HIGH COURTDeduction u/s 10(10C) - amount received by the employees of Public Sector Company or statutory authority - exemption upto Rs.5 lacs - Held that:- In view of decision of Bombay High Court in Commissioner of Income-Tax v. Nagesh Devidas Kulkarni (2007 -TMI - 13399 - BOMBAY High Court), and a perusal of Section 10(10C) clearly shows that the amount received by the employees of Public Sector Company or statutory authority is covered by exemption upto Rs.5 lacs. - the appeals are dismissed against the revenue and in favour of the assessee.
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