Employee opting for voluntary retirement scheme has no right to withdraw

Court– Karnataka High Court Citation- Sri A. Balakrishnan S/O Late … Vs The General Manager, Hindustan (2007) 208 CTR Kar 337, 2007 290 ITR 227 KAR Judgement 1. Petitioner was an employee in the 1st respondent – Organization M/s. HMT Ltd. Petitioner availed of a voluntary retirement scheme as on 31.3.2003 that was mooted by the employer and as a result he received an amount of Rs. 6,01,270/-. The employer at the time of paying this amount deducted a sum of Rs. 29,331/- at source under the provisions of Section 192 of the Act and an acknowledgment in Form 16-A was also issued ...