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2006 (1) TMI 93 - HC - Income Tax"Whether, Tribunal was right in holding that the assessee is eligible to claim simultaneous benefit u/s 10(10C) as well as section 89(1) in respect of the compensation received under the voluntary retirement scheme?" - "The second proviso to section 10(10C) only refers to exemption claimed in any other year. Every assessment year is a self-contained unit and the mere fact that the relief under section 89 had been spread over several years, did not mean that the relief was not in respect of a particular assessment year. There was no prohibition to the twin benefits in respect of the amount received under the voluntary retirement scheme. The relief contemplated under section 89(1) is aimed to mitigate hardship that may be caused on account of the high incidence of tax due to progressive increase in tax rates. Payment under the voluntary retirement scheme is covered by the word 'salary which has been given a very wide definition in section 17. Since the assessee was covered by section 89, he would get both the benefits." – revenue appeal dismissed
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