Ram Kishan Gupta vs ITO, Ward 4(2), Jaipur

Parties Involved

Facts Summary

The assessee, Ram Kishan Gupta, superannuated from his service and filed a revised return of income on 04.11.2020, declaring a total income of Rs 18,10,230. He claimed an exemption of Rs 13,81,281 under section 10(10AA) of the Income Tax Act, 1961, in respect of the cash equivalent of leave salary received on retirement. The Assistant Director of Income Tax restricted the exemption to Rs 3,00,000 and added the balance of Rs 10,81,281, determining the total income at Rs 28,91,310. The Commissioner of Income Tax (Appeals) upheld the adjustment, holding that the assessee is eligible for the exemption to the extent of Rs 3,00,000 only.…

Legal Issues

• 1. Whether the exemption under section 10(10AA) of the Income Tax Act, 1961, can be confined to Rs 3,00,000 for the assessee?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

Similar Judgements

• Shri Dinesh Kumar Tyagi Vs. Commissioner of Income Tax

  Delhi bench

• Anant Chintaman Gundalwar vs. ITO, Ward-1, Chandrapur

  Nagpur bench

• Kailash Narayan Shridhar vs. Deputy Commissioner of Income Tax

  Ahmedabad bench

• Sabbirahmed Basirahmed Shaikh vs. ITO, Ward-4(1)(7) Vadodara

  Ahmedabad bench

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

  SMC Bench, Mumbai benchAY 2020-21Allowed

• Sunil Kumar Saxena Vs CIT(A)/NFAC, Delhi

  Delhi Bench benchAY 2020-21Allowed