2001 (4) TMI 79

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....owing question for our opinion : "Whether, on the facts and in the circumstances of the case, the Tribunal is justified in law in upholding the order of the Commissioner of Income-tax (Appeals) by accepting the claim of exemption of Rs. 60,437 which the assessee received after the winding up of the superannuation scheme, when some of the conditions for exemption mentioned in section 10(13) was ....

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....eaning of section 17 of the Income-tax Act, 1961. The relevant provision that is sub-clause (ii) of clause (3) of section 17 reads as under : "(ii) any payment other than any payment referred to in clause (10), clause (10A), clause (10B), clause (11), clause (12), clause (13) or clause (13A) of section 10, due to or received by an assessee from an employer or a former employer or from a provide....

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....ntroverted the facts that the relevant assessment year is 1987-88, payment has been made out of an approved superannuation fund and the words "not being an approved superannuation fund" have been omitted with effect from April 1, 1996. The payment has been made from the approved superannuation fund and the words "not being an approved superannuation fund" were there in sub-clause (ii) during th....