2011 (5) TMI 974

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.... PER D.K. TYAGI, JUDICIAL MEMBER:- This is Revenue's appeal against the order of Commissioner of Incometax( Appeals)-XXI, Ahmedabad in appeal No. CIT(A)-XXI/177/Wd.15(4)/2009-10 dated 25-01-2010 for the assessment year 2008-09. 2. The Revenue has taken following ground:- "1. The learned CIT(A) has erred in law and n facts ins deleting the addition of Rs. 5,00,000/- u/s/10(10C) of....

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.... an employee of State Bank of India had filed return of income for assessment year 2008-09 declaring total income of Rs. 86,120/-. The Assessing Officer noticed that the assessee had opted for Early Retirement on 30-04-2007 and claimed exemption u/s.10(10C) amounting to Rs. 5 lakh. The exemption of Rs. 5 lakh u/s.10(10C) is available if the Voluntary Retirement Scheme satisfies the guidelines laid....

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.... and others has passed order in favour of the appellant following the claim of exemption u/s.10(10C) of the Act. I have gone through the order of the Assessing Officer and the order of the Hon'ble Income-tax Appellate Tribunal, Ahmedabad Bench "A" with regard to the claim of exemption u/s10(10C) of the Act. The ITAT has observed as under:- 'We find that ITAT, Mumbai Bench in a group of id....