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2015 (5) TMI 9 - GUJARAT HIGH COURT

2015 (5) TMI 9 - GUJARAT HIGH COURT - TMI - 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 such retirement was not to be filled up was not satisfied? - Held that:- An employee opting for voluntary retirement and the amount received on voluntary retirement shall be entitled to exemption under Secti .....

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5 - MR. M.R. SHAH AND MR. S.H. VORA, JJ. FOR 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 are decided and disposed of by this common judgment and order. [2.0] In all these Tax Appeals the following common substantial question of law arises; A. Whether the Appellate Tribunal has erred in law in a .....

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S and Section 10(10C) of the I.T. Act 1961 would 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 lacs and further benefit under Section 89 of the Act. By the impugned judgment and order and after following the decision of the Bombay High Court in the case of CIT Vs. Nagesh Devidas Kulkarni reported in 29 .....

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