https://www.taxtmi.com/caselaws?id=75716 A voluntary retirement scheme that operates for eligible employees, is intended to reduce workforce strength, and does not require replacement of retiring employees may satisfy section 10(10C) read with rule 2BA, making compensation eligible for exemption up to the prescribed limit. The text also notes that reassessment based only on a later departmental view, without fresh material, is unsustainable where the same scheme had already been accepted and prior appellate decisions in identical matters had attained finality. The stated ratio emphasises that a qualifying voluntary retirement scheme attracts the statutory exemption, and that reassessment cannot rest merely on a subsequent opinion or circular. en-us Tue, 10 Jun 2008 00:00:00 +0530 Wed, 30 Jan 2013 15:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75716 A voluntary retirement scheme that operates for eligible employees, is intended to reduce workforce strength, and does not require replacement of retiring employees may satisfy section 10(10C) read with rule 2BA, making compensation eligible for exemption up to the prescribed limit. The text also notes that reassessment based only on a later departmental view, without fresh material, is unsustainable where the same scheme had already been accepted and prior appellate decisions in identical matters had attained finality. The stated ratio emphasises that a qualifying voluntary retirement scheme attracts the statutory exemption, and that reassessment cannot rest merely on a subsequent opinion or circular. Case-Laws Income Tax Tue, 10 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75716