2012 (8) TMI 1023

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....ekar, JM In this appeal, the revenue has challenged the impugned order of CIT(A), Kolhapur dated 16.6.2011 for the A.Y. 2007-08. The revenue has taken following effective grounds in the appeal : "1. On the facts and in the circumstances of the case, the CIT(A), Kolhapur, failed to appreciate the fact that the employees opted for Exit option Scheme declared by SBI and SBI, Patiala and other Ass....

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....med exemption u/s. 10(10C) of the Act in respect 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). Th....