https://www.taxtmi.com/caselaws?id=17389 The High Court of Bombay ruled in favor of the assessee, affirming their entitlement to the benefit under section 10(10AA) of the Income-tax Act, 1961 upon resignation. The court held that resignation amounts to retirement within the meaning of the provision, making the employee eligible for the deduction for the cash equivalent of unutilized earned leave upon resignation from employment. The court emphasized that the clause aims to provide relief to retiring employees and includes retirement by resignation within its scope, citing a similar decision by the Madras High Court to support its interpretation. en-us Mon, 28 Jul 1997 00:00:00 +0530 Tue, 22 Sep 2009 10:49:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17389 The High Court of Bombay ruled in favor of the assessee, affirming their entitlement to the benefit under section 10(10AA) of the Income-tax Act, 1961 upon resignation. The court held that resignation amounts to retirement within the meaning of the provision, making the employee eligible for the deduction for the cash equivalent of unutilized earned leave upon resignation from employment. The court emphasized that the clause aims to provide relief to retiring employees and includes retirement by resignation within its scope, citing a similar decision by the Madras High Court to support its interpretation. Case-Laws Income Tax Mon, 28 Jul 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17389