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2018 (7) TMI 1175 - HC - Income TaxBenefit of exemption under Section 10(10C) - assessee as retirees of the ICICI Bank under Early Retirement Option Scheme, 2003 as filed a revised return well beyond the period stipulated under Section 139(5) - Held that:- All the contentions which were advanced by the second respondent in the counter affidavit have been dealt with by this Court and thereafter, the writ petition has been allowed. I find that there is absolutely no ground made out by the respondents to distinguish the decision rendered in the case of S. SEVUGAN CHETTIAR [2016 (12) TMI 415 - MADRAS HIGH COURT] wherein held default in complying with the requirement was due to circumstances beyond the control of the assessee, the Board is entitled to exercise its power and relax the requirement contained in Chapter IV or Chapter VI-A - as held the petitioner, being a senior citizen, cannot be denied of the benefit of exemption under Section 10(10C) of the Act and the financial benefit that had accrued to the petitioner, which would be more than a lakh of rupees. Therefore, this Court is of the view that the third respondent should grant the benefit of exemption to the petitioner. The writ petition is partly allowed and the impugned order is set side and the second respondent is directed to grant the benefit of exemption under Section 10(10C) of the Income Tax Act, 1961, and refund the appropriate amount to the petitioner, within a period of eight weeks from the date of receipt of a copy of this order. This time limit is fixed on the ground that the petitioner is aged 61 years and has a rare cardiac problem and a pacemaker is installed in his heart. No costs.
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