2007 (10) TMI 378 - HC - Income Tax

Voluntary retirement scheme- Held that- dismiss the appeal, that the order passed by the single judge holding that it was necessary for the Assessing Officer to process the return and finalize it in order to arrive at a conclusion whether the assessee was entitled for the benefit of section 10(10C) of the Income Tax Act, 1961 called for no interference.

Summary

The High Court of Karnataka dismissed the appeal, upholding the decision of the learned single judge. The respondent's return will be processed, and the deducted amount from the voluntary retirement payment will be refunded within two weeks.