https://www.taxtmi.com/caselaws?id=16782 The Court dismissed the petition seeking a refund of income tax deducted from Voluntary Retirement Scheme benefits. It held that approval of the scheme by tax authorities at the time of retirement is essential for tax exemption under section 10(10C) of the Income-tax Act, 1961. Since the scheme was approved post-retirement, the petitioner was deemed ineligible for the tax exemption benefit. The ruling emphasizes the importance of timely approval of such schemes by tax authorities for employees to qualify for tax exemptions. en-us Tue, 15 Oct 1996 00:00:00 +0530 Sat, 12 Sep 2009 12:10:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16782 The Court dismissed the petition seeking a refund of income tax deducted from Voluntary Retirement Scheme benefits. It held that approval of the scheme by tax authorities at the time of retirement is essential for tax exemption under section 10(10C) of the Income-tax Act, 1961. Since the scheme was approved post-retirement, the petitioner was deemed ineligible for the tax exemption benefit. The ruling emphasizes the importance of timely approval of such schemes by tax authorities for employees to qualify for tax exemptions. Case-Laws Income Tax Tue, 15 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16782