Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2007 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2007 (7) TMI 282 - HC - Income TaxAssessee received compensation under the voluntary retirement scheme - eligibility to claim simultaneous benefit u/s 10(10C) as well as section 89(1) - held that the notions of equity do not apply in taxing statutes. If the assessee is entitled to two different benefits on the plain language of the statute, he has to be granted both those benefits. - there is no prohibition to the twin benefits in respect of the amount received under the voluntary retirement scheme - relief contemplated u/s 89(1) is aimed to mitigate the hardship that may be caused on account of the high incidence of tax due to progressive increase in tax rates and thus held that the benefit under sections 10(10C) and 89(1) could be granted to the assessee
|