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2015 (1) TMI 57 - AT - Income TaxRelief u/s 89(1) for the amount received in excess of the amount eligible for exemption u/s 10(10C) - voluntary retirement scheme - Whether the assessee is entitled for exemption u/s 10(10C) Held that:- Following the decision in Sail-dsp Vr Employees Association-'98 Versus Union of India And Others [2001 (4) TMI 57 - CALCUTTA High Court] wherein it was held that the maximum exemption u/s 10(10C) of ₹ 5 lakhs is allowable as all the conditions of Section 10(10C) read with rule 2BA are fulfilled - If the sum is received in excess of ₹ 5 lakhs, the same was held eligible for relief under section 89 (1) - the sums are clearly the part of salary in the form of profits in lieu of salary as defined in Section 17(3) - these are amount of compensation received by, the employee from the employer in connections with the terms of employment and, therefore, the assessee are clearly entitled for relief u/s 89(1) in accordance with law in respect of the payments that are included in the total income Decided in favour of assessee. Condonation of delay of 2 years and seven months delay genuine and bonafide or not Held that:- The assessee cannot be treated as a litigant who was not interested in pursuing the legal remedy against the assessment order - CIT(A) clearly vindicates the assessee's claim that he was acting on legal advice - The assessee was a bank employee and not a legal expert to know the niceties of his legal rights - in the present set of facts and the delay in filing the appeal before CIT(A) should have been condoned.
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