1985 (12) TMI 112 - AT - Income Tax

Summary

The ITAT Delhi-D allowed exemption under section 10(10AA) of the IT Act for leave encashment received by an employee upon retirement. The Revenue's appeal was dismissed as the employee had retired from service, making him eligible for the exemption. The decision of the Karnataka High Court in a similar case was deemed not applicable as the employees in that case had not retired.