https://www.taxtmi.com/caselaws?id=182781 The Tribunal allowed the appeals of the assessees against the order revoking exemption under section 10(10C) on ex-gratia amount received under the Exit Option Scheme by State Bank of India. The Tribunal found that the Assessing Officer's decision to allow the exemption was correct and not erroneous, emphasizing that the CIT's directive issued after assessments were completed was not justified. Therefore, the Tribunal set aside the CIT's orders, ruling in favor of the assessees on 7th December 2010. en-us Tue, 07 Dec 2010 00:00:00 +0530 Thu, 19 May 2016 14:56:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182781 The Tribunal allowed the appeals of the assessees against the order revoking exemption under section 10(10C) on ex-gratia amount received under the Exit Option Scheme by State Bank of India. The Tribunal found that the Assessing Officer's decision to allow the exemption was correct and not erroneous, emphasizing that the CIT's directive issued after assessments were completed was not justified. Therefore, the Tribunal set aside the CIT's orders, ruling in favor of the assessees on 7th December 2010. Case-Laws Income Tax Tue, 07 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182781