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ITAT Allows Full ₹10.15 Lakh Leave Encashment Exemption: ₹25 Lakh CBDT Limit Held Applicable
Case Law Details
- Case Name
- Pankaj Bhupatrai Joshi Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Ahmedabad
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Pankaj Bhupatrai Joshi Vs ITO (ITAT Ahmedabad)
ITAT Allows Full ₹10.15 Lakh Leave Encashment Exemption: ₹25 Lakh CBDT Limit Held Applicable
The Ahmedabad ITAT allowed full exemption of ₹10.15 lakh received towards leave encashment by a retired State Bank of India employee and held that the enhanced exemption limit of ₹25 lakh notified by CBDT applies while granting relief under Section 10(10AA)(ii).
The assessee had retired during FY 2019-20 and claimed exemption of ₹10,15,928 towards leave encashment. However, CPC while processing return under Section 143(1) restric...
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