https://www.taxtmi.com/caselaws?id=467056 Leave encashment received by a bank employee was considered for exemption under Section 10(10AA) of the Income-tax Act. The relevant issue was whether employees of nationalised banks or public sector undertakings qualify as Central or State Government employees for this exemption. The revised exemption ceiling prescribed by CBDT Notification No. 31/2023 was applied, and the claimed amount fell within that limit. The assessing officer was directed to grant exemption for the leave encashment amount claimed, subject to the revised ceiling. en-us Mon, 21 Apr 2025 00:00:00 +0530 Mon, 02 Mar 2026 15:53:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467056 Leave encashment received by a bank employee was considered for exemption under Section 10(10AA) of the Income-tax Act. The relevant issue was whether employees of nationalised banks or public sector undertakings qualify as Central or State Government employees for this exemption. The revised exemption ceiling prescribed by CBDT Notification No. 31/2023 was applied, and the claimed amount fell within that limit. The assessing officer was directed to grant exemption for the leave encashment amount claimed, subject to the revised ceiling. Case-Laws Income Tax Mon, 21 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467056