Employees of PSU not eligible to claim 100% exemption u/s 10(10AA)

Shri Devendra Kumar Gupta Vs CIT (ITAT Jaipur)

ITAT Jaipur held that 100% exemption u/s. 10(10AA) denied as employees of Public Sector Undertaking (PSU) and Nationalized Banks or other Institutions which are classified as ‘State’ cannot be assumed the status of Central Government and State Government employees.

Facts- The appellant who has retired is an employee of Ajmer Vidyut Vitran Nigam Ltd. and had claimed an amount being leave encashment received as exempt u/s. 10(10AA) of the Act. However,

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