2006 (1) TMI 93

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..... s to exemption claimed in any other year. Every assessment year is a self-contained unit and the mere fact that the relief under section 89 had been spread over several years, did not mean that the relief was not in respect of a particular assessment year. There was no prohibition to the twin benefits in respect of the amount received under the voluntary retirement scheme. The relief contemplated .....

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..... e of the appellant is that the assessees/respondents herein, availed of the benefit of the voluntary retirement scheme and claimed exemption of the amount of compensation received, both under section 10(10C) and section 89(1) of the Income-tax Act. The Assessing Officer granted exemption as envisaged under section 10(10C) of the Act, but denied the exemption under section 89(1) of the Act, on th .....

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..... er the voluntary retirement scheme?" It is fairly conceded by the learned counsel appearing for the Revenue that the issue raised in the above question is squarely covered against the Revenue by the decision of this court in CIT v. G.V. Venugopal [2005] 273 ITR 307 wherein it is held as under: "The second proviso to section 10(10C) only refers to exemption claimed in any other year. Every asse .....

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