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2011 (5) TMI 442 - AT - Income TaxExemption of leave encashment and gratuity - As per the decision of the Hon’ble jurisdictional High Court in the case of CIT v. D.P. Malhotra [1997 -TMI - 17389 - BOMBAY High Court], held that since the assessee has resigned from M/s Hygenic Research Institute on 31-12-2004, the assessee is entitled to the exemption of leave encashment u/s 10(10AA)(ii) and gratuity u/s 10(10)(iii) of the Act - However, in the absence of any calculation and the limit as provided by the Central Government by notification in the official gazette as mentioned in the respective sub-sections, are of the view that the matter should go back to the file of the Assessing Officer to examine the same afresh in the light of our directions given hereinabove and according to law after providing reasonable opportunity of being heard to the assessee - The grounds taken by the assessee are, therefore, partly allowed for statistical purpose. Interest u/s 234A and 234B - perusing the material available on record and keeping in view the submissions of the learned counsel for the assessee that the consequential relief be allowed to the assessee in respect of levy of interest u/s 234A and 234B, we hold and order accordingly - The grounds taken by the assessee are therefore partly allowed.
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