ITAT Allows Full ₹10.15 Lakh Leave Encashment Exemption: ₹25 Lakh CBDT Limit Held Applicable

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) restricted the exemption...