2012 (11) TMI 1125

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... O R D E R Per R.S. Padvekar, JM In this appeal, the assessee has challenged the impugned order of the CIT(A) - III, Pune dated 15th July 2011 for the A.Y. 2008-09. The solitary issue arising for our consideration is denial of the exemption claimed by the assessee u/s. 10(10C) of the Act in respect of Ex-gratia amount received by the assessee from his employer under the Exit Option Scheme. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tan Ambujakshan, 219 CTR 80 (Bom). He further submitted that the decision in the case of CIT Vs. Koodathil Kallyatan Ambujakshan(Supra) has been accepted by the CBDT and to that extent, Circular is also issued by the CBDT. We find that the issues stand squarely covered in favour of the assessee by the decision of the Hon'ble High Court in the case of CIT Vs. Koodathil Kallyatan Ambujakshan (Supra)....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t of the Ex-gratia amount received from the Bank on his Voluntary Retirement. The said claim of exemption u/s. 10(10C) was rejected by the A.O. following the CBDT Circular F. No.200/34/2009-ITA.I, dated 8.10.2009. The A.O. denied the claim of the assessee u/Sec. 10(10C) of the Act. The assessee challenged the assessment order before the Ld CIT(A). The Ld CIT(A) following the decision in the case o....