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2010 (10) TMI 697 - AT - Income TaxVoluntary Retirement Scheme - VRS - Rule 2BA - assessee in default section 201(1) - Assessee claimed that wherever any payment is made in excess of Rs.5 lacs has been made in regard to early bird incentives, the tax has been deducted by the company on such payments and paid to the Govt - This aspect has already been remitted to the Assessing Officer for verification of the veracity of the statement - Thus, it is also not the case of the Assessing Officer that company has failed to deduct and paid the tax for good and sufficient reasons - Assessee has clearly demonstrated that it had good sufficient reasons for non-deduction of tax for payment of VRS upto Rs.5 lacs - As per the decision of Hon'ble Delhi High Court in the case of C.I.T. vs. Nestle India Ltd. (2000 -TMI - 15273 - DELHI High Court) has dismissed the revenue's appeal - Do not find any infirmity in the order of the Ld. Commissioner of Income Tax (Appeals) in this regard and uphold the same - Decided in favour of assessee.
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