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2010 (7) TMI 76 - HC - Income TaxExemption u/s 10(10C) – optional early retirement scheme (OERS) – conditions to be satisfied – eligible scheme – Held that: - Optional Early Retirement Scheme of RBI satisfies all the conditions of Rule 2BA and amounts received by retiring employees thereunder were eligible for exemption u/s. 10(10C). - the employees of Reserve Bank of India who accepted Optional Early Retirement Scheme, are entitled for the benefit of Section 10(10C) of the Income Tax Act, 1961, the Tax Case (Appeal) stands allowed.
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