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2012 (11) TMI 214 - AT - Income TaxExemption u/s 10(10C) – Voluntary retirement scheme - Assessee received ex-gratia on VRS and claim exemption u/s 10(10C) on said amount – AO not allow the claim on basis of violation of condition laid down under rule 2BA – Held that:- Following the decision in case of Pandya Vinodchandra Bhogilal (2010 (7) TMI 796) that the provisions of section 10(10C) are to be interpreted liberally in a manner which is beneficial to retired employees. If AO had any doubt about the scheme he could have enquired from the employer. Assessee employee cannot be penalized and tax will be levied on him on the assumption that the scheme framed by employer is not in accordance with rule 2BA. In favour of assessee
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