ITO, Ward 2(2), Kolhapur V. Shri Vishwanath Vithal Pujari, Kolhapur

ITA 394/PUN/2013

• Counselvise Citation: 39424514 RSA 2013
• Duration Of Justice: 8 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-10-2013
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2008-2009
• Appeal Filed On: 08-02-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P L PATHADE

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A , PUNE BEFORE: SHRI G. S. PANNU, ACCOUNTANT MEMBER AND SHRI R.S. PADVEKAR, JUDICIAL MEMBER ITA NO. 39 4 /PN/2013 ASSESSMENT YEAR : 200 8 - 09 INCOME TAX OFFICER, WARD - 2( 2 ), KOLH APUR VS. SHRI VISHWANATH VITHAL PUJARI, DATTA KRUPA 2004, A WARD, SHIVAJI PETH, KOLHAPUR (APPELLANT) (RESPONDENT) PAN NO. ADDPP4456P APPELLANT BY: SHRI P.L. PATHADE RESPONDENT BY: SHRI C.H. NANI W ADEKAR DATE OF HEARING : 23 - 10 - 2013 DATE OF PRO NOUNCEMENT : 28 - 10 - 2013 ORDER P ER R.S. PADVEKAR , JM : - THIS APPEAL IS FILED BY THE REVENUE CHALLENGING THE IMPUGNED ORDER OF THE LD. CIT(A), KOLHAPUR DATED 30 - 11 - 2012 FOR THE A.Y. 200 8 - 09 . THE REVENUE HAS TAKEN THE MULTIPLE GROUNDS BUT THE SOLITARY I SSUE WHICH ARISES FOR CONSIDERATION IS WHETHER THE LD. CIT(A) WAS JUSTIFIED IN HOLDING THE EX - GRATIA AMOUNT RECEIVED FROM THE BANK ON HIS VOLUNTARY RETIREMENT FROM THE STATE BANK OF INDIA BY OPTING EXIT OPTION SCHEME IS ELIGIBLE FOR THE BENEFIT OF EXEMPTI ON U/S. 10(10C) OF THE INCOME - TAX ACT . 2. THE BRIEFLY STATED FACTS ARE AS UNDER. THE ASSESSEE IS AN EMPLOYEE OF THE STATE BANK OF INDIA AND OPTED FOR VOLUNTARY RETIREMENT UNDER THE EXIT OPTION SCHEME ANNOUNCED BY THE BANK. ON HIS VOLUNTARY RETIREMEN T THE ASSESSEE GOT THE EX - GRATIA AMOUNT AS A COMPENSATION OF RS. 4,71,366/ - AND THE ASSESSEE CLAIMED THE EXEMPTION OF RS. 4,71,366/ - U/S. 10(10C) OF THE ACT. THE ASSESSING OFFICER DISALLOWED THE CLAIM OF THE ASSESSEE BUT THE LD. CIT(A) HAS ALLOWED THE CLAIM BY FOLLOWING DECISION S OF THE ITAT IN THE FOLLOWING CASES: 2 ITA NO. 39 4 /PN/2013, SHRI VISHWANATH VITHAL PUJARI, KOLHAPUR I. SHRI JAYANT B RUKADIKAR ITA NO. 1046/PN/2011 30/08/2012 II. DATTATRAYA D MARATHE ITA NO. 1095/PN/2011 05/09/2012 III. SMT. JAYSHREE A WALWADKAR ITA NO. 1047/PN/2011 29/08/2012 IV. RAJENDRA SAHADEV DHURAT ITA NO. 1357/PN/2011 15/10/2012 3. THE ISSUE STANDS SQUARELY COVERED IN FAVOUR OF THE ASSESSEE BY THE DECISION S CITED ABOVE . W E ACCORDINGLY CONFIRM THE ORDER OF LD. CIT(A) AND DISMISS THE REVENUES APPEAL. 4. IN THE RESULT, THE REV ENUES APPEAL IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 28 - 10 - 2013 SD/ - SD/ - ( G.S. PANNU ) ( R.S. PADVEKAR ) ACCOUNTANT MEMBER JUDICIAL MEMBER RK /PS PUNE , DATED : 28 TH OCTOBER, 20 1 3 COPY TO 1 ASS ESSEE 2 DEPARTMENT 3 THE CIT(A), KOLHAPUR 4 THE CIT, KOLHAPUR 5 THE DR, ITAT, A BENCH, PUNE . 6 GUARD FILE. //TRUE COPY// BY ORDER PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL PUNE