ITAT Allows leave encashment benefit u/s 10(10A) for service with Govt undertaking prior to restructuring

Chander Shekher Saini Vs ITO (ITAT Chandigarh) Facts: The assessee, Shri Chander Shekher Saini, is a retired employee who served initially with the Punjab State Electricity Board (PSEB) and, pursuant to restructuring, with Punjab State Power Corporation Limited (PSPCL), a company wholly owned by the Government of Punjab. It is not in dispute that the assessee served with PSEB from 18.11.1983 to 16.04.2010 and thereafter continued in service with PSPCL till his For the assessment year 2016–17, the assessee received leave encashment on retirement from PSPCL. While filing his return of income,...