2017 (3) TMI 1686

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....le ground urged by the Revenue in this appeal under Section 260A of the Income Tax Act, 1961 is whether the deletion of Rs. 75 crores ordered by the CIT(A) and the ITAT in the circumstances was justified. The assessee received grants from the Govt. of NCT of Delhi for meeting revenue expenses, i.e. by way of ex-gratia payment upon voluntary retirement. In the first instance, the Assessing Officer....

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.... income as first instalment towards VRS exgratia being 1/5th of such payment as per terms set out by the Drawing and Disbursing Authority [DDA] and thus first limit of addition of Rs. 39.10 crores has been dismissed. Further, from the order of the CIT(A), we are also in agreement with the conclusion as recorded by the first appellate authority that since the Government of Delhi, which is 100% owne....