https://www.taxtmi.com/caselaws?id=245353 The Tribunal set aside the orders of the Ld. CIT-26 and restored the AO's decision to allow exemption under section 10(10C) to the assessees who opted for Voluntary Retirement Scheme from State Bank of India. The Tribunal disagreed with the Ld. CIT-26's interpretation of a Bombay High Court decision, emphasizing that non-compliance with Rule 2BA of IT Rules does not necessarily invalidate the exemption claim. Citing precedents and tribunal decisions, the Tribunal held that the AO's initial decision was reasonable, ultimately ruling in favor of the assessees. en-us Fri, 10 Aug 2012 00:00:00 +0530 Thu, 27 Mar 2014 10:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245353 The Tribunal set aside the orders of the Ld. CIT-26 and restored the AO's decision to allow exemption under section 10(10C) to the assessees who opted for Voluntary Retirement Scheme from State Bank of India. The Tribunal disagreed with the Ld. CIT-26's interpretation of a Bombay High Court decision, emphasizing that non-compliance with Rule 2BA of IT Rules does not necessarily invalidate the exemption claim. Citing precedents and tribunal decisions, the Tribunal held that the AO's initial decision was reasonable, ultimately ruling in favor of the assessees. Case-Laws Income Tax Fri, 10 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245353