PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
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ITAT affirmed that section 10(10AA)(i) is confined to employees of the Central or State Government and does not extend to statutory corporations or government-owned companies; being owned or governed by State service rules does not render the employer a "State Government." The assessee, a retired PSU employee, falls within clause (ii) and is therefore eligible only for the capped exemption of Rs. 3,00,000 for leave encashment on superannuation. The Tribunal applied its coordinate bench precedent and dismissed the assessee's appeal, holding that any claim for exemption beyond Rs. 3,00,000 is not tenable under section 10(10AA).
ITAT affirmed that section 10(10AA)(i) is confined to employees of the Central or State Government and does not extend to statutory corporations or government-owned companies; being owned or governed by State service rules does not render the employer a "State Government." The assessee, a retired PSU employee, falls within clause (ii) and is therefore eligible only for the capped exemption of Rs. 3,00,000 for leave encashment on superannuation. The Tribunal applied its coordinate bench precedent and dismissed the assessee's appeal, holding that any claim for exemption beyond Rs. 3,00,000 is not tenable under section 10(10AA).
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