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Income Tax Officer, Ward 2 (2) , Kolhapur Versus Shri Vijay Ganpatrao Patil

2012 (8) TMI 1023 - ITAT PUNE

Eligibility for exemption u/s 10(10C) - employees opted for Exit option Scheme declared by SBI - Held that:- Exemption allowed as relying on CIT Vs. Koodathil Kallyatan Ambujakshan [2008 (7) TMI 259 - BOMBAY HIGH COURT]. - I.T.A. No. 1045/PN/2011 - D .....

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the impugned order of CIT(A), Kolhapur dated 16.6.2011 for the A.Y. 2007-08. The revenue has taken following effective grounds in the appeal : 1. On the facts and in the circumstances of the case, the CIT(A), Kolhapur, failed to appreciate the fact t .....

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facts and in the circumstances of the case, the CIT(A), Kolhapur erred in holding that the Assessing Officer was not justified in rejecting the claim of exemption u/s 10(10C) and further allowing assessee s appeal on this ground ignoring the fact th .....

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oluntary Retirement as per Exist Option Scheme (EOS) declared by the Bank. In the return of income for the A.Y. 2007-08. The assessee claimed exemption u/s. 10(10C) of the Act in respect of the Ex-gratia amount received from the Bank on his Voluntary .....

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