TMI Blog2009 (10) TMI 498X X X X Extracts X X X X X X X X Extracts X X X X ..... r section 10(10C) - Held that: - 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 - NOS. 6997 TO 7002 OF 2009 - - - Dated:- 21-10-2009 - ALTAMAS KABIR AND CYRIAC JOSEPH, JJ. Ms. V. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ants. The same was the subject-matter of the tax appeal cases before the Bombay High Court, which refers to the order of the Appellate Tribunal on the basis of letter [F. No. 225/74/2005-ITA-II], dated 20-10-2005, of the Central Board of Direct Taxes so far as the Reserve Bank of India is concerned. The High Court held that having regard to the above letter of the Central Board of Direct Taxes, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that in view of the said circular, the respondent would 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. 4. Having regard to the above, the appeals succeed and are allowed. The impugned order passed by the High Court is set aside and that of the Tribunal is restored. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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