ITAT allowed the assessee's appeal and held that the individual...

ITAT allowed the assessee's appeal and held that the individual qualifies as a Sikkim old settler entitled to exemption under section 10(26AAA) of the Act. Relying on the residential certificate and prevailing Apex Court precedent, the Tribunal found the claim for exemption properly established, resulting in nil taxable income after the exemption. Consequently, the additions made by the Assessing Officer were set aside and the exemption under s.10(26AAA) was upheld. The appeal was allowed in favour of the assessee, with directions to revise the assessment accordingly.