ITAT allowed the assessee's appeal challenging leave encashment ...

Leave Encashment Deduction Upheld: Full Amount Allowed Under Section 10(10AA) Based on Recent CBDT Notification

April 11, 2025

Case Laws Income Tax AT

ITAT allowed the assessee's appeal challenging leave encashment deduction under section 10(10AA). The tribunal found that the CIT(A)'s rejection based on non-submission of Form 16 was untenable, as the Assessing Officer already had information about the claimed amount of Rs. 20,29,482. Pursuant to the CBDT notification dated 24th May 2023, the leave encashment limit was revised to Rs. 25,00,000, thereby enabling the assessee to claim the entire amount instead of the previously restricted Rs. 3,00,000. The tribunal directed the Assessing Officer to allow the deduction consistent with the revised statutory limit.

View Source

← Previous Next →

ITAT allowed the assessee's appeal challenging leave encashment ...

Leave Encashment Deduction Upheld: Full Amount Allowed Under Section 10(10AA) Based on Recent CBDT Notification

April 11, 2025

Case Laws Income Tax AT

You may also like:

Exemption of leave encashment u/s 10(10AA)(ii) - AO directed to allow 100% exemption of leave encashment received on account of employment with Department of...

Deduction u/s 10(10AA) - leave encashment on retirement - Since as per the documents, Malviya National Institute of Technology, Jaipur (Raj) is a Govt. Institution,...

Section 10(10AA) of the Income Tax Act provides tax exemption for leave encashment upon retirement for Central/State government employees and employees other than...

Assessee received leave encashment amount upon retirement, bifurcated into sums from Department of Telecommunications (Govt. of India) and BSNL. ITAT held amount from...

Premium towards leave encashment - provision for leave encashment was held to be allowable if the same was based on a particular scheme proportionately with the...

Taxability of Arrears of leave encashment - As there is not much difference in the language of section 10(10)(i) and 10(10AA)(i) and the view taken in respect of arrears...

The ITAT allowed the appellant's claim for exemption under section 10(10AA) for earned leave encashment received upon retirement. Relying on the Jaipur Bench decision in...

Disallowance of deduction claimed u/s 10AA after claiming deduction / exemption u/s 10A - SEZ unit - As on the commencement of assessment year 2006-07, which is the...

Exemption u/s 10(10AA) - exemption from income tax from the leave encashment amount at the time of retirement of the employees other than government employees - as...

Levy of service tax - tolerance of act of cancellation of coal blocks - the Government employee has tolerated the non-sanction of leave during his service as per an...

TDS u/s 192 - exemption towards leave encashment - There is no reason for them to think that its estimate of employee’s income under the head “Salaries” was incorrect as...

The Tribunal held that based on the financial parameters and risk profile, the assessee qualifies as a developer rather than merely a contractor u/s 80IA of the Income...

Deduction u/s. 10AA - Trading activity - In the nature of "services" or not? - Activities of import of goods for re-export - The above clarification given by the...

Denial of deduction u/s 10AA - assessee contended that filing of Audit Report as required u/s.10AA(8) of the Act, is procedural and directory in nature and thus, for...

Leave encashment - Disallowance of exemption claimed u/s. 10(10AA) (i) by holding that the assessee is not an employee of the Central or State Governments - The ITAT...

Quick Updates: