https://www.taxtmi.com/caselaws?id=9767 The High Court of Madras ruled in a tax case appeal that an assessee is eligible to claim benefits under both sections 10(10C) and 89(1) of the Income-tax Act simultaneously for compensation received under a voluntary retirement scheme for the assessment year 2001-02. The court emphasized that each assessment year is self-contained, and the relief under section 89(1) aims to mitigate tax burden due to progressive tax rates. The court referred to a previous decision to support its conclusion, dismissing the Revenue's appeals and affirming the assessee's right to claim both exemptions. en-us Fri, 20 Jan 2006 00:00:00 +0530 Tue, 30 Jun 2009 16:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9767 The High Court of Madras ruled in a tax case appeal that an assessee is eligible to claim benefits under both sections 10(10C) and 89(1) of the Income-tax Act simultaneously for compensation received under a voluntary retirement scheme for the assessment year 2001-02. The court emphasized that each assessment year is self-contained, and the relief under section 89(1) aims to mitigate tax burden due to progressive tax rates. The court referred to a previous decision to support its conclusion, dismissing the Revenue's appeals and affirming the assessee's right to claim both exemptions. Case-Laws Income Tax Fri, 20 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9767