Retrenchment compensation received under a voluntary retirement...

Retrenchment compensation received under a voluntary retirement scheme was held eligible for exemption under section 10(10B). The Tribunal found the controversy identical to an earlier co-ordinate bench decision on the same scheme and, noting no change in the legal position or factual matrix, followed that precedent. As a result, the assessee's claim for exemption was accepted and the grounds seeking relief under section 10(10B) were allowed.