TMI Blog2009 (4) TMI 180X X X X Extracts X X X X X X X X Extracts X X X X ..... hat there is no prohibition to the twin benefits in respect of an amount received under the voluntary retirement scheme – so assessee is entitled to exemption u/s 10(10C) and relief u/s 89(1) for the exgratia amount received from the employer bank - 2170 of 2008 - - - Dated:- 23-4-2009 - K. RAVIRAJA PANDIAN and M. M. SUNDRESH JJ. J. Nareshkumar for the appellant. JUDGMENT The judgme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ex gratia had been worked out by the employer at 60 days salary for each completed year of service or salary for the number of months of service left, whichever was less. Out of the ex gratia thus received, the assessee claimed exemption of Rs. 5,00,000 as per the provisions of section 10(10C) of the Act. The balance ex gratia was admitted as income. However, while working out the tax payable on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Division Bench judgment of this court in the case of CIT v. G. V. Venugopal reported in [2005] 273 ITR 307. The facts are identical in that case. The question of law is also identical as that of the present case. The Division Bench has held that the second proviso to section 10(10C) only refers to exemption claimed in any other year. Every assessment year is a self-contained unit and the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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