N.Thenappan, Trichy V. ITO, Trichy

ITA 1473/CHNY/2011

• Counselvise Citation: 147321714 RSA 2011
• Duration Of Justice: 2 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-11-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2004-2005
• Appeal Filed On: 29-08-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: S KEERTHIRAJAN
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, CHENNAI BEFORE DR. O.K.NARAYANAN, VICE-PRESIDENT AND SHRI HARI OM MARATHA, JUDICIAL MEMBER ITA NO.1473(MDS)/2011 ASSESSMENT YEAR: 2004-05 SHRI N.THENAPPAN, 24A/C, SRIRAM APARTMENT, SASTRI ROAD, THENNUR, TIRUCHIRAPALLI-620 017. PAN AADPJ3821B. VS. THE INCOME-TAX OFFICER, WARD II(2), TIRUCHIRAPALLI. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI S. KEERTHIRAJAN, C.A. RESPONDENT BY : SHRI A.C.JO SEPH, IRS, JOINT COMMISSIONER OF INCOME-TAX. DATE OF HEARING : 17 TH NOVEMBER, 2011 DATE OF PRONOUNCEMENT : 17 TH NOVEMBER, 2011 O R D E R PER DR.O.K.NARAYANAN, VICE-PRESIDENT: THIS APPEAL IS FILED BY THE ASSESSEE. THE RELEVA NT ASSESSMENT YEAR IS 2004-05. THE APPEAL IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME-TAX(APPEALS) AT - - ITA NO.1473 OF 2011 2 TIRUCHIRAPALLI DATED 19-10-2005 AND ARISES OUT OF T HE ASSESSMENT COMPLETED UNDER SECTION 143(3) OF THE INCOME-TAX AC T, 1961. 2. THE ONLY GROUND RAISED IN THE PRESENT APPEAL IS THAT THE ASSESSEE, A FORMER EMPLOYEE OF ICICI BANK, HAS BEEN DENIED THE EXEMPTION OF ` 5 LAKHS UNDER SECTION 10(10C) OF THE INCOME-TAX ACT, 1961. THE SAID AMOUNT WAS HIS RETI REMENT BENEFIT. THIS ISSUE IS COVERED IN FAVOUR OF THE A SSESSEE BY A SERIES OF ORDERS OF THE INCOME-TAX APPELLATE TRIBUN AL, CHENNAI BENCHES. THE DETAILS OF THE DECISIONS ARE GIVEN BY THE ASSESSEE AS PART OF HIS GROUNDS OF APPEAL. THE HONBLE MADR AS HIGH COURT ITSELF HAS TAKEN A SIMILAR VIEW IN THE CASE O F K.R.ALAGAPPAN, 332 ITR 517. IN THESE CIRCUMSTANCES , WE ACCEPT THE CONTENTION OF THE ASSESSEE AND DIRECT TH E ASSESSING OFFICER TO GIVE EXEMPTION OF ` 5 LAKHS TO THE ASSESSEE UNDER SECTION 10(10C) OF THE ACT. 3. IN RESULT THIS APPEAL FILED BY THE ASSESSEE IS ALLOWED. - - ITA NO.1473 OF 2011 3 ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ON THURSDAY, THE 17 TH OF NOVEMBER, 2011 AT CHENNAI. SD/- SD/- (HARI OM MARATHA) (DR. O.K.NARAYANAN) JUDICIAL MEMBER VICE-PRESIDENT CHENNAI, DATED THE 17 TH NOVEMBER, 2011. V.A.P. COPY TO: (1) APPELLANT (2) RESPONDENT (3) CIT (4) CIT(A) (5) D.R. (6) G.F.