DCIT (2018) 93 taxman.com 441
(P & H)
v) Ajai Verma vrs. CIT & Anr. (2008) 304
ITR 0030 (Alld)
13. On the other ... Manmohan Das (Deceased) (1966) 59
ITR 699 (SC) and
ii) State Bank of India vrs. ACIT (WP No. 271 of
2018 alongwith
reported 309 ITR 113 which
clearly held that the public sector banks VRS schemes are complying Rule 2BA r.w.
sec. 10(10C). The claim ... employee of State
Bank of India. During the year under consideration he opted for Exit Option
Scheme of SBI. Originally the assessee filed
Assessing
Officer by holding out that the employer need to state that VRS scheme framed is in compliance to
Rule 2BA of the Income ... Syndicate Bank is one of the commercial bank like the SBI.Thus,there is no justifica -
tion for differentiating between
amount received by the
assessee from State Bank of India on the eve of EOS (VRS). The assessee
opted for Exit Option Scheme of SBI
relevant facts are that the assessee, an individual, ex-SBI employee
opted for SBI Exist Option Scheme, during the assessment year ... gratia payment on being opted for VRS scheme introduced by the
employer i.e. SBI. Accordingly, the assessee had claimed Rs.5 lakhs
assessee worked with the State Bank of India as
an officer from 1984 to 2005 and then took VRS from the Bank and started
assessee worked with the State Bank of India as
an officer from 1984 to 2005 and then took VRS from the Bank and started
assessee worked with the State Bank of India as
an officer from 1984 to 2005 and then took VRS from the Bank and started
State Co-Operative
Housing Finance Corporation Ltd.
judgment in the case of CIT Vrs. Doba Co-operative Sugar
Mills Ltd. (230 ITR 774), CIT Vrs ... Dugdh Sahkari Sangh
Ltd. (277 ITR 35) and CIT Vrs. Kangra Co-operative Bank
Ltd. (309 ITR 106).
6. We have heard counsels for both
relief under Section 89 of the IT Act. It may be stated that the view of the AO was based on the clarification issued ... Department to the employees of other public sector banks which introduced Voluntary Retirement Scheme (VRS) for the benefit of the employees. Reliance was placed
