2014 (1) TMI 1703

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....014, ITA No. 43/PN/2014, ITA No. 45/PN/2014, ITA No. 47/PN/2014, ITA No. 49/PN/2014, - -<br>Income Tax<br>SHRI SHAILENDRA KUMAR YADAV, JUDICIAL MEMBER, AND SHRI G.S. PANNU, ACCOUNTANT MEMBER For the Appellant: Shri Pramod S. Shingte For the Respondent: Shri P.L. Pathade ORDER PER BENCH: These appeals pertain to different assessees on similar issues filed against the respective order....

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....e Tax Act, 1961, of a sum of Rs.NIL/- without assignaing any reason whatsoever. 4. Without prejudice to the above grounds Learned Assessing Officer has erred in not granting the relief u/s 89(1) of the Income Tax Act, 1961, of the entire amount which your appellant is entitled as per the provisions of law. Your appellant craves for to leave, add, alter, modify, delete, and alter above ground....

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....ived on termination of employment and hence the assessee is entitled for the exemption u/s.10(10C) as well as the relief u/s.89(1) in respect thereof. The amount received on voluntary retirement is nothing but profit in lieu of salary within the meaning of that term in section 89(1) and hence such amount is also qualified for relief u/s.89(1) of I.T. Act. In view of this, the Assessing Officer is ....