https://www.taxtmi.com/caselaws?id=207985 The Tribunal ruled in favor of the assessee, determining eligibility for exemptions under sections 10(10AA)(ii) and 10(10)(iii) of the Income-tax Act, 1961. The Tribunal disagreed with the Assessing Officer and Commissioner of Income-tax (Appeals), holding that resignation qualifies as retirement for exemption purposes. The Tribunal distinguished the case from McDowell & Co. Ltd., emphasizing that the assessee's actions were lawful. Additionally, the Tribunal directed relief for interest levied under sections 234A and 234B, remanding the matter for further assessment by the AO in accordance with prescribed limits. en-us Fri, 27 May 2011 00:00:00 +0530 Sat, 31 Dec 2011 23:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207985 The Tribunal ruled in favor of the assessee, determining eligibility for exemptions under sections 10(10AA)(ii) and 10(10)(iii) of the Income-tax Act, 1961. The Tribunal disagreed with the Assessing Officer and Commissioner of Income-tax (Appeals), holding that resignation qualifies as retirement for exemption purposes. The Tribunal distinguished the case from McDowell & Co. Ltd., emphasizing that the assessee's actions were lawful. Additionally, the Tribunal directed relief for interest levied under sections 234A and 234B, remanding the matter for further assessment by the AO in accordance with prescribed limits. Case-Laws Income Tax Fri, 27 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207985