https://www.taxtmi.com/caselaws?id=464337 ITAT CHANDIGARH - AT dismissed the appeal and held the assessee entitled only to exemption under section 10(10AA)(ii), limited to Rs. 3,00,000, not the full leave encashment claimed under section 10(10AA)(i). The Tribunal ruled that statutory corporations or state-owned undertakings do not qualify as "State Government" for section 10(10AA)(i) absent express legislative extension, and applied a strict literal interpretation of the taxing provision. Earlier co-ordinate bench decisions favoring broader relief were found distinguishable and not controlling. en-us Tue, 24 Jun 2025 00:00:00 +0530 Fri, 24 Oct 2025 10:10:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464337 ITAT CHANDIGARH - AT dismissed the appeal and held the assessee entitled only to exemption under section 10(10AA)(ii), limited to Rs. 3,00,000, not the full leave encashment claimed under section 10(10AA)(i). The Tribunal ruled that statutory corporations or state-owned undertakings do not qualify as "State Government" for section 10(10AA)(i) absent express legislative extension, and applied a strict literal interpretation of the taxing provision. Earlier co-ordinate bench decisions favoring broader relief were found distinguishable and not controlling. Case-Laws Income Tax Tue, 24 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464337