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TMI Blog2001 (4) TMI 79X X X X Extracts X X X X X X X X Extracts X X X X ..... and in the circumstances of the case, the Tribunal is justified in law in upholding the order of the Commissioner of Income-tax (Appeals) by accepting the claim of exemption of Rs. 60,437 which the assessee received after the winding up of the superannuation scheme, when some of the conditions for exemption mentioned in section 10(13) was not fulfilled ?" In this case the assessee claimed that t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt provision that is sub-clause (ii) of clause (3) of section 17 reads as under : "(ii) any payment other than any payment referred to in clause (10), clause (10A), clause (10B), clause (11), clause (12), clause (13) or clause (13A) of section 10, due to or received by an assessee from an employer or a former employer or from a provident or other fund (not being an approved superannuation fund), ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 88, payment has been made out of an approved superannuation fund and the words "not being an approved superannuation fund" have been omitted with effect from April 1, 1996. The payment has been made from the approved superannuation fund and the words "not being an approved superannuation fund" were there in sub-clause (ii) during the assessment year 1987-88, there is no question to treat any pay ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d counsel for the Revenue also submits that the payment has been made after the winding up of the scheme, firstly, the Income-tax Officer has not disallowed the claim of the assessee on this ground, secondly, whether the scheme is in existence or not is irrelevant. Under the provisions of section 17(3), once the payment has been made out of the approved superannuation fund that amount cannot be tr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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