https://www.taxtmi.com/caselaws?id=457217 The Calcutta HC allowed the assessee's appeal regarding taxability of voluntary retirement benefits. The case involved whether the individual retired as Managing Director or Advisor and eligibility for voluntary retirement benefits under Section 10(10C). The CIT(A) correctly found that the voluntary retirement application dated 10th December 1992 was accepted with effect from 31st December 1992, when the assessee retired as Managing Director. The Tribunal erroneously reversed this finding, stating no salary was drawn for even half a day as Advisor on 1st January 1993. The HC held the Tribunal's order was erroneous and perverse, missing the actual retirement date, and allowed the assessee's appeal. en-us Wed, 20 Jul 2022 00:00:00 +0530 Thu, 12 Sep 2024 13:53:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457217 The Calcutta HC allowed the assessee's appeal regarding taxability of voluntary retirement benefits. The case involved whether the individual retired as Managing Director or Advisor and eligibility for voluntary retirement benefits under Section 10(10C). The CIT(A) correctly found that the voluntary retirement application dated 10th December 1992 was accepted with effect from 31st December 1992, when the assessee retired as Managing Director. The Tribunal erroneously reversed this finding, stating no salary was drawn for even half a day as Advisor on 1st January 1993. The HC held the Tribunal's order was erroneous and perverse, missing the actual retirement date, and allowed the assessee's appeal. Case-Laws Income Tax Wed, 20 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457217