https://www.taxtmi.com/caselaws?id=178972 The court ruled in favor of the petitioners, ex-employees of the Reserve Bank of India, in a case concerning tax exemption under Section 10(10C) of the Income Tax Act for compensation received under the Optional Early Retirement Scheme (OERS). The court held that the OERS qualified for tax exemption as a voluntary retirement scheme, meeting the requirements of Rule 2BA of the Income Tax Rules. It set aside the reassessment proceedings initiated by the Assessing Officer, confirming the petitioners' entitlement to the claimed tax exemption of up to Rs. 5 lakhs. en-us Wed, 22 Jul 2009 00:00:00 +0530 Wed, 17 Feb 2016 19:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178972 The court ruled in favor of the petitioners, ex-employees of the Reserve Bank of India, in a case concerning tax exemption under Section 10(10C) of the Income Tax Act for compensation received under the Optional Early Retirement Scheme (OERS). The court held that the OERS qualified for tax exemption as a voluntary retirement scheme, meeting the requirements of Rule 2BA of the Income Tax Rules. It set aside the reassessment proceedings initiated by the Assessing Officer, confirming the petitioners' entitlement to the claimed tax exemption of up to Rs. 5 lakhs. Case-Laws Income Tax Wed, 22 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178972