2011 (11) TMI 663

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....irst appellate order on several grounds impugning action of the Ld CIT(A) in allowing the amount of Rs. 5,00,000/- u/s. 10(10C) of the Act as exemption on the basis of original return of income filed by the assessee. 2. We have heard the Ld. D.R. and have considered his argument as well as orders of the authorities below. 3. The assessee an employee of State Bank of India had claimed exemption u....