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2006 (3) TMI 101 - GUJARAT HIGH COURTAmount receivable by the assessee on his voluntary retirement - Tribunal has held that under rule 2BA (vi) only the lower of the two limits specified therein is exempt and, therefore, only a sum of Rs. 35,445 being the lower limit, would be allowable to the assessee under section 10(10C) - Tribunal has substantially erred in law in importing words 'whichever is lower' in rule 2BA(vi) of the Income-tax Rules, 1962 - On a plain interpretation of the provisions of section 10(10C) of the Act and clause (vi) of rule 2BA of the Rules, this court is of the opinion that the Tribunal was not justified in allowing the amount representing the lower of the two limits under the scheme of voluntary retirement. - Tribunal has substantially erred in law in holding that out of the two limits prescribed by clause (vi) of rule 2BA, the lower limit is exempt
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