High Court Quashes Income Tax Notices on Post-Retirement Provident Fund Interest

The High Court of Punjab and Haryana quashed Income Tax Authorities' notices regarding taxation of interest accrued on provident fund accounts post-retirement. The decision favored the petitioners based on a prior Division Bench judgment. The writ petition was allowed, and the notices were quashed without costs.

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The High Court of Punjab and Haryana quashed the Income Tax Authorities' notices dated 29.3.2007 and 24.10.2007 regarding the taxation of interest accrued on provident fund accounts after retirement. The decision was in favor of the petitioners based on a previous Division Bench judgment. The writ petition was allowed, and the notices were quashed with no costs.

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