https://www.taxtmi.com/caselaws?id=378525 The appeals by the Revenue Department challenging the exemption granted under Section 10(10C) of the Income Tax Act to employees who received amounts on voluntary retirement from a bank were dismissed. Previous High Court and Supreme Court judgments supported granting such exemptions, and the lack of material to justify denial led to upholding the exemption. Precedents, including a Supreme Court case involving the RBI scheme and a circular from the Central Board of Direct Taxes, confirmed eligibility for exemption. The Tribunal's decision granting exemption to retiring employees was reinstated without costs awarded. en-us Thu, 28 Mar 2019 00:00:00 +0530 Wed, 17 Apr 2019 16:28:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378525 The appeals by the Revenue Department challenging the exemption granted under Section 10(10C) of the Income Tax Act to employees who received amounts on voluntary retirement from a bank were dismissed. Previous High Court and Supreme Court judgments supported granting such exemptions, and the lack of material to justify denial led to upholding the exemption. Precedents, including a Supreme Court case involving the RBI scheme and a circular from the Central Board of Direct Taxes, confirmed eligibility for exemption. The Tribunal's decision granting exemption to retiring employees was reinstated without costs awarded. Case-Laws Income Tax Thu, 28 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378525