https://www.taxtmi.com/caselaws?id=791997 Leave encashment exemption for a retired private employee was considered under section 10(10AA) in light of CBDT Notification No. 31/2023, which enhanced the ceiling to Rs. 25,00,000 with effect from 01.04.2023. The analysis treated sub-clauses (i) and (ii) of section 10(10AA) as operating on par for application of the revised limit and relied on the explanatory memorandum stating that retrospective effect should not adversely affect any person. On that basis, restriction of the exemption to Rs. 3,00,000 was held unsustainable, and the enhanced exemption limit was applied. en-us Fri, 15 May 2026 00:00:00 +0530 Thu, 21 May 2026 08:30:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791997 Leave encashment exemption for a retired private employee was considered under section 10(10AA) in light of CBDT Notification No. 31/2023, which enhanced the ceiling to Rs. 25,00,000 with effect from 01.04.2023. The analysis treated sub-clauses (i) and (ii) of section 10(10AA) as operating on par for application of the revised limit and relied on the explanatory memorandum stating that retrospective effect should not adversely affect any person. On that basis, restriction of the exemption to Rs. 3,00,000 was held unsustainable, and the enhanced exemption limit was applied. Case-Laws Income Tax Fri, 15 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791997