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COMMISSIONER OF INCOME TAX-VII Versus NATVARLAL K SHARMA

2015 (5) TMI 9 - GUJARAT HIGH COURT

Exemption under Section 10(10C) denied - Whether the Appellate Tribunal has erred in law in allowing exemption under Section 10(10C) of the I.T. Act 1961 even though conditions laid down in Rule 2BA of the I.T. Rules 1962 that the vacancy caused by s .....

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mit of ₹ 5 lacs and for the amount beyond ₹ 5 lacs shall be entitled to the relief under Section 89 of the Act. See CIT Versus Nagesh Devidas Kulkarni [2007 (4) TMI 205 - BOMBAY High Court] & Karamchari Union Vs. Union of India reported i .....

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THE APPELLANT : MR SUDHIR M MEHTA, ADVOCATE FOR THE RESPONDENT : MR MAHESH B BARIYA, ADVOCATE ORAL JUDGMENT (PER : HONOURABLE MR.JUSTICE M.R. SHAH) [1.0] As common question of law and facts arise in these group of Tax Appeals, all these Tax Appeals .....

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he I.T. Act 1961 even though conditions laid down in Rule 2BA of the I.T. Rules 1962 that the vacancy caused by such retirement was not to be filled up was not satisfied? B. Whether the Appellate Tribunal erred in law in not taking cognizance of RBI .....

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ould not be applicable? [3.0] It is not in dispute that in all these cases respective assessee, who opted for voluntary retirement, claimed exemption under Section 10(10C) of the Income Tax Act (hereinafter referred to as the Act ) up to ₹ 5 la .....

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preme Court in the case of Karamchari Union Vs. Union of India reported in [2001] 243 ITR 143 (SC), the learned Tribunal has reversed the orders passed by the authorities below and allowed the exemption claimed by the respective assessee under Sectio .....

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had an occasion to consider the exemptions claimed by the assessee who received the amount of voluntary retirement claimed under Section 89 of the Act as well as under Section 10(10C) of the Act and it is held that the assessee is entitled to exempt .....

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e Hon ble Supreme Court in the subsequent decision in the case of Chandra Ranganathan and Ors. Vs. Commissioner of Income Tax reported in [2010] 326 ITR 49 (SC). Not only that even subsequently considering the decision of the Bombay High Court in the .....

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