2012 (8) TMI 987

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....iled by the assessee. It is directed against the order of ld CIT(A) dated 20.10.2011 for assessment year 2006-07. The assessee was working with State Bank of India. He took voluntary retirement under the Staff Supervising Exit Option Scheme offered by the bank. Along with other retirement benefits, he was paid ex gratia amounting to ₹ 5 lakhs under the said scheme and the assessee claimed th....

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....isallowance made by Assessing Officer and upheld by Ld CIT(A) is as per provisions of Act. 5. We have heard the rival submissions of both the parties and have gone through the material available on record. We observe from the case law relied upon by the Ld AR that Hon'ble Tribunal in this case had followed the Third Member decision in the case of DCIT v. Krishna Gopal Saha 121 ITD 368 (Cal.) ....