SHRI Janardhan Mahadeorao Dhabarde, Wardha V. Income Tax Officer,Ward-4, Wardha

ITA 20/NAG/2012

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 93385 (ITAT-NAGPUR)
• Duration Of Justice: 3 year(s) 3 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-05-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2008-2009
• Appeal Filed On: 03-02-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D R RAVI KUMAR
• Section: 143(3)

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR. BEFORE SHRI MUKUL K. SHRAWAT, JUDICIAL MEMBER AND SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER. I.T.A. NO. 20/NAG/2012 ASS ESSMENT YEAR : 200 8-09. JANARDHAN MAHADEORAO DHABARDE, THE INCOME-TAX OFFICER, NEW SBI COLONY, BEHIND DHUNIWALE MATH, V/S. WARD, WARDHA. WARDHA. APPELLANT. RESPONDENT. APPELLANT BY : SHRI MAHAVIR ATAL. RESPONDENT BY : D R. RAVI KUMAR. DATE OF HEARING - 28-04-2015 DATE OF ORDER 8 TH MAY, 2015. O R D E R PER SHRI MUKUL K. SHRAWAT, J.M. THIS IS AN APPEAL FILED BY THE ASSESSEE EMANATING FROM THE ORDER OF LEARNED CIT(APPEALS)-II, NAGPUR DATED 14-10-2011 PE RTAINING TO ASSESSMENT YEAR 2008-09 AND THE ONLY GROUND IS IN RESPECT OF CLAIM OF EXEMPTION UNDER SECTION 10(10C) OF I.T. ACT. 2. THE UNDISPUTED FACT AS EMERGED FROM THE CORRESPO NDING ASSESSMENT ORDER PASSED UNDER SECTION 143(3) DATED 23-12-2010 IS THA T THE ASSESSEE, AN INDIVIDUAL, IS AN EX EMPLOYEE OF STATE BANK OF INDIA. VIDE PARA 3 OF THE ASSESSMENT ORDER, THE 2 ASSESSING OFFICER HAS MENTIONED THAT THE ASSESSEE H AD OPTED A VOLUNTARY RETIREMENT BY EXIT OPTION SCHEME OF STATE BANK O F INDIA. THE ASSESSEE HAS CLAIMED A DEDUCTION UNDER SECTION 10(10C) OF THE I. T. ACT OF ` . 5,00,000/- WHICH WAS DISALLOWED BY THE ASSESSING OFFICER. EVEN THE F IRST APPELLATE AUTHORITY HAD UPHELD THE SAID DISALLOWANCE. HOWEVER, NOW BEFORE US, FEW DECISIONS OF ITAT, NA GPUR HAVE BEEN PLACED ON RECORD WHEREIN FOR ASSESSMENT YEAR 2008-09 THE C LAIM OF DEDUCTION IN RESPECT OF EXIT OPTION SCHEME OF STATE BANK OF INDIA WAS CONSIDERED AND DEDUCTION WAS ALLOWED. IN A BUNCH OF 10 APPEALS, ITAT, NAGPUR BEN CH, ORDER DATED 11-092014 (AT SR. NO.1 ITA NO.380/NAG/2014 SHRI MANSUKHLAL CHAGAN LAL PARMAR) THIS ISSUE WAS CONSIDERED AND HELD THAT SUCH EMPLOYEES ARE ELIGIBL E FOR CLAIM OF DEDUCTION UNDER SECTION 10(10C) OF THE I.T. ACT. RESPECTFULLY FOLLO WING THIS DECISION OF THE COORDINATE BENCH, WE HEREBY DIRECT TO ALLOW THE CLA IM OF EXEMPTION AS PRESCRIBED UNDER SECTION 10(10C) OF THE I.T. ACT. GROUNDS RAI SED IN THIS REGARD ARE HEREBY ALLOWED. 3. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED. ORDER PRONOUNCED IN THE OPEN COURT ON 8 TH MAY, 2015. SD/- SD/- (SHAMIM YAHYA) (MUKUL K. SHRAWAT) ACCOUNTANT MEMBER JUDICIAL MEMBER. NAGPUR, DATED: 8 TH MAY, 2015. 3 COPY OF ORDER FORWARDED TO : 1. THE ASSESSEE. 2. REVENUE. 3. THE CIT(A) 4. THE CIT, NAGPUR. 5. THE D.R., ITAT, NAGPUR. 6. GUARD FILE. T RUE COPY. BY ORDER ASSISTANT REGISTRAR, ITAT, N AGPUR WAKODE