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2018 (11) TMI 135 - HC - Income TaxExemption u/s 10(10C) - Voluntary retirement scheme - amount received under the OERS of the Reserve Bank of India - assessee in the Reserve Bank of India and took Voluntary Retirement under the 'Optional Early Retirement Scheme' (OERS), framed by the Reserve Bank of India - Held that:- This very issue was considered by the Hon'ble Supreme Court in the case of Chandra Ranganathan vs. Commissioner of Income Tax [2009 (10) TMI 498 - SUPREME COURT OF INDIA] wherein as held in view of circular dated 8-5-2009, revenue agreed to allow the benefit of deduction to the appellants under section 10(10C) of the Income-tax Act, 1961, as far as the retired employees of the Reserve Bank of India are concerned. - Exemption u/s 10(10C) allowed - Decided in favour of assessee.
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