2023 (10) TMI 1506

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..... i) of the Act within the revised limit as prescribed in the notification . Hence, in terms of these observations, the appeal of the assessee is allowed.
DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM For the Assessee : None For the Revenue : Smt Monisha Choudhary(Addl. CIT) ORDER PER: RATHOD KAMLESH JAYANTBHAI, AM This appeal is filed by assessee against the order of ld. CIT(A) dated 07-08-2023 National Faceless Appeal Centre, Delhi [here in after (NFAC)/CIT(A)] for assessment year 2018-19 raising therein following grounds of appeal. ''1. That natural justice avoided. 2. That it is case of employees of DOT who have been w.e.f.01-10-20222 absorbed in BSNL and thus is a Government employees and is entitled for .....

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..... the assessee claimed Rs.6,87,030/- in return filed for the year under consideration as exempt income u/s of the Act. It is also noted that an application u/s 154 of the Act was filed by the assessee before the AO who rejected the claim of the assessee 10(10AA)(i) at the time of processing the return. 2.5 Against the rejection of the claim by the AO u/s 154 of the Act, the assessee carried the matter before the ld. CIT(A) who confirmed the action of the AO by observing as under:- ''5.4 After duly considering the grounds of appeal, the details mentioned in the letter darted 17-09-2022to the CIT(Appeal), Income Tax Department and the details mentioned in the order u/s 254 dated 02-02-2022 of the ADIT, CPC, Bangalore, it is hereby held that .....

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..... ication issued under Clause (ii) of Section 10(10AA) was lastly issued, as taken note of hereinabove, on 31.05.2002. We therefore, issue notice to the respondents limited to this aspect. 9. Issue notice, learned counsel for the respondents accepts notice. Respondents should file counter affidavits be filed within six weeks. Rejoinder thereto, if any, be filed before the next date." 8.1 Recently the Central Board of Direct Taxes Suomotu revised the limit for deduction u/s 10(10AA) of the Act and the revised limit now stood at Rs. 25,00,000 as specified vide notification no. 31/2023 issued by the ministry of finance. Since the leave encashment amount as claimed by the assessee is amount to Rs. 6,97,100/- which is below the revised limit .....

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