Khadija Sainul Abeeb Nalakath Vs. Addl./JCIT (Appeals)-4, Kolkata

Parties Involved

Facts Summary

The present appeal is instituted by Khadija Sainul Abeeb Nalakath, challenging the order of Addl./JCIT(A)-Kolkata dated 29.02.2024, which upheld the restriction of exemption under section 10(10AA)(ii) to Rs. 3,00,000 instead of granting full exemption of Rs. 9,88,767 received by the appellant on retirement from the Bank of Baroda. The assessee claimed that the restriction of Rs. 3,00,000 was notified in 2002 and has not been revised despite subsequent pay revisions. The assessee relied on various judgments and notifications to argue that the enhanced limit of Rs. 25 lakh should be applied retrospectively.…

Legal Issues

• 1. Whether the learned CIT(A) erred in upholding the restriction of exemption under section 10(10AA)(ii) to Rs. 3,00,000 instead of granting full exemption of Rs. 9,88,767.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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