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2015 (10) TMI 405 - SC - Income TaxCompensation received on voluntary retirement under the Early Retirement Option - deduction under Section 10(10C) for terminal benefits along with relief under Section 89(1) of the Income Tax Act for the ERO components and gratuity - HC denied exemption - Held that:- Learned counsel for the appellant has produced copies of various orders passed by this Court in certain appeals arising in identical circumstances and holding that in such cases deduction under Section 10(10C) of the Act would be available to the assessee. The learned counsel appearing for the respondent could not dispute the aforesaid position granting relief to similarly situated persons. We, accordingly, set aside the order of the High Court and allow the present appeal holding that the appellant shall be entitled to exemption under Section 10(10C) of the Income Tax Act and, as a result, he will also be entitled to the refund of the aforesaid amount. - Decided in favour of assessee.
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