https://www.taxtmi.com/caselaws?id=774960 ITAT AGRA allowed the assessee's appeal regarding leave encashment exemption under section 10(10AA)(ii). The Revenue had restricted the exemption to ? 3,00,000, but the assessee claimed higher deduction based on increased limits. The Tribunal held that CBDT circulars have force of law when beneficial to assessees and cannot curtail statutory benefits. Citing Supreme Court precedent in Union of India vs. Wood Paper Limited, the Tribunal emphasized liberal interpretation of benefit computation conditions. Following coordinate bench decisions from Jaipur, ITAT ruled the assessee eligible for deduction up to ? 25,00,000 as per Notification No. 31/2023 dated 24.05.2023, deciding in favor of the assessee against Revenue. en-us Wed, 18 Jun 2025 00:00:00 +0530 Thu, 17 Jul 2025 08:19:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774960 ITAT AGRA allowed the assessee's appeal regarding leave encashment exemption under section 10(10AA)(ii). The Revenue had restricted the exemption to ? 3,00,000, but the assessee claimed higher deduction based on increased limits. The Tribunal held that CBDT circulars have force of law when beneficial to assessees and cannot curtail statutory benefits. Citing Supreme Court precedent in Union of India vs. Wood Paper Limited, the Tribunal emphasized liberal interpretation of benefit computation conditions. Following coordinate bench decisions from Jaipur, ITAT ruled the assessee eligible for deduction up to ? 25,00,000 as per Notification No. 31/2023 dated 24.05.2023, deciding in favor of the assessee against Revenue. Case-Laws Income Tax Wed, 18 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774960