2023 (1) TMI 214 - AT - Income Tax
Admissible claim as envisaged u/s 10(1) & u/s 10(10C) - excess relief claimed u/s 89 disallowed - CIT(A) by considering the relevant provision u/s 10(1) & 10(10C) found that claim made by the assessee is genuine and based on bonafide ground even if the same could not be made in the return of income, further, directed the A.O. to allow the admissible claim as envisaged u/s 10(1) & u/s 10(10C) of the Act.
HELD THAT:- In so far as issue of relief u/s 89 CIT(A) restricted amount of Rs. 2,41,874/- as relief, considering amended provisions of Section 89 & Section 10(10C) of the Act, the said claim of the assessee is held to be not allowable. The Ld. CIT(A) has considered the amended provision to Section 10(10C) and Section 89 and further also considered CBDT Circular No. 20/2015 which is w.e.f. 01/04/2010 with insertion of proviso to Section 89, wherein no exemption shall be allowed to the assessee if any relief has been allowed u/s 10(10C) of the |Act for any Assessment Year in respect of the amount received or receivable on voluntarily retirement or termination of service.
Considering the above facts that the assessee could not claim relief u/s 10 (10B) at the time of filing of return which has been ultimately resulted in passing the order impugned, in our considered view, if the assessee be given the benefit of exemption u/s 10 (10B) of the Act and no other Exemption under Chapter III is allowed, the substantial justice would be rendered. Therefore, we direct the A.O. to give the exemption u/s 10 (10B) of the Act in accordance with law. Appeal of the assessee is allowed for statistical purpose.