Full Section 10(10AA) Benefit Granted as Leave Encashment Was Below ₹25 Lakh Threshold

Dinesh Kumar Mittal Vs ITO (ITAT Jaipur) The appeal before the Income Tax Appellate Tribunal (ITAT), Jaipur, arose from an order of the Additional/Joint Commissioner of Income Tax (Appeals), Vadodara, relating to Assessment Year 2021-22. The dispute concerned the assessee’s claim for exemption of leave encashment amounting to ₹20,29,482 under Section 10(10AA) of the Income Tax Act. While processing the return and subsequent rectification proceedings under Section 154 read with Section 143(1), the CPC, Bengaluru restricted the exemption to ₹3,00,000 and denied the balance claim. The asses...