2010 (7) TMI 76

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....sp; For appellant: Mr.S.Vaidyanathan For respondent: Mr.J.Nareshkumar. Senior Standing Counsel for Income Tax Department. (JUDGMENT OF THE COURT WAS DELIVERED BY F.M.IBRAHIM KALIFULLA, J.) The Assessee has come forward with this appeal in which the following substantial questions of law have been raised:- "(1) Whether on the facts and circumstances of the case, the Tribunal was right in allo....

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....t received by Reserve Bank of India's Employees under Optional Early Retirement Scheme (OERS) during Assessment Year 2004-05, reg. Sir/Madam, Central Board of Direct Taxes vide its letter F.No.225/74/2005-ITA-II dated 20.10.2005 relying on a letter from Reserve Bank of India (RBI), had advised all field formations that the Optional Early Retirement Scheme (OERS) of RBI does not conform with the ....

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....he employees of RBI who accepted OERS would be entitled for the benefit of Section 10(10C) of Income Tax Act, 1961." 3. In fact, in respect of another employee of Reserve Bank of India, who had gone on Voluntary Retirement under the Scheme, this Court on 25.11.2009 passed orders in T.C.No.1101 of 2008, by applying the decision of the Supreme Court in Civil Appeal Nos.6997-7002 of 2009 arising out....