2010 (10) TMI 113

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..... "1. Whether on the facts and in the circumstances of the case, the Tribunal is justified in holding that the assessee could claim simultaneous benefits under Section 10 (10 C) as well as Section 89 (1) of the Income Tax Act in respect of Compensation under the Voluntary Retirement Scheme?"   Shri A.N.Mahajan, learned Standing Counsel submitted that the issue in the present appeal is covere .....

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..... ilar dispute has been dismissed by the Apex Court on 2.2.2009. The above view has also approved by the apex Court in the case of Chandra Ranganathan and others Vs. Commissioner of Income Tax, reported in [2010] 326 ITR 49 (SC). Respectfully following the aforesaid decisions, the questions are answered in favour of the assessee and against the revenue. The order of the Tribunal is upheld.   T .....

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