2011 (1) TMI 1379

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....filed by the assessee. It is directed against the order of ld. CIT(A) dated 16.2.10 for A.Y. 2008-09. 2. Assessee was working with State Bank of India as Deputy Manager. He took voluntary retirement under the staff supervising exit option scheme offered by the Bank. Along with other retirement benefits, he was paid exgratia of ₹ 9,42,464/- under the said scheme out of which assessee claimed....

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.... as per Early Separation Plan (ESP). He claimed deduction of ₹ 5 lakh u/s 10(10C) of the Act. The employer vide their letter dated 14.11.06 stated that the employees availing the said ESP scheme are not eligible for exemption u/s 10(10C) of the Act as the scheme was not in conformity with the provisions of Rule 2BA(i) to (v). However, the said contention of the assessee was accepted by the T....

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....f the claim of the assessee is that employer of the assessee had stated in para 10 that the proposed scheme did not comply with Rule 10(10C) of the Act and no benefit of exemption of ex-gratia for the Income Tax was intended in the scheme. Similarly in the aforementioned case of DCIT Vs. Krishna Gopal Saha the employer had stated that employees availing the said ESP scheme are not eligible for exe....