TaxTMI 
TaxTMI 
2019 (4) TMI 2180
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....DER PER SANJAY GARG, JUDICIAL MEMBER: The present appeal has been preferred by the assessee against the order of the Commissioner of Income Tax (Appeals)2, Chandigarh (in short CIT(A) dated 28.3.2018. 2. The assessee has taken following grounds of appeal: "1. That on the facts, circumstances of the case and in law, the Worthy CIT(A) through his order dated 28.03.2018 has erred in passing that....
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....issue are that during the assessment proceedings the A.O. noted that the assessee had claimed exemption u/s 10(10A) of the Income Tax Act, 1961 (in short 'the Act') amounting to Rs. 56,38,227/- received as lump sum payment from its erstwhile employer i.e.. M/s Ranbaxy Laboratories Ltd on account of discontinuance of certain retirement policy of company. The amount was claimed by the assessee to be....
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.... so far as the observation of the Assessing officer that the benefit of section 10(10A) of the Act was not available to the assessee, the Ld. C1T(A) held that as per the provisions of section 10(10A)(ii) of the Act, the exemption was also available to the private employees also. However, the Ld. CIT(A) confirmed the disallowance made by the Assessing officer observing that the aforesaid payment wa....
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....ct and denied the exemption claimed by the assessee on this account. 5. We have considered the rival submissions and have also gone through the record. The issue is squarely covered by the decision of the Co-ordinate Chandigarh Bench of the Tribunal in the case of other employees in similar facts and circumstances vide order dated 11.3.2019 passed in ITA No. 870/Chd/2018 & Others titled as 'Sh. R....