Ita/924/2009 Of The Commissioner Of Income Tax v. K.balakrishnan

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE V.K.MOHANAN MONDAY, THE 7TH SEPTEMBER 2009 / 16TH BHADRA 1931 ITA.No. 924 of 2009() --------------------- ITA.425/COCH/2007 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT: ------------------------------ THE COMMISSIONER OF INCOME TAX, COCHIN. BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT(S): --------------- K.BALAKRISHNAN, `SHANTHIKRISHNA', XI/1381, AMBALAPADY, WANDOOR, MALAPPURAM-679 328. THIS INCOME TAX APPEAL HAVING COME UP FOR ADMISSION ALONG WITH ITA NO.944/2009 & CONN. CASES ON 07/09/2009, THE COURT ON 07/09/2009 DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR &V.K.MOHANAN, JJ. ....................................................................I.T. Appeal Nos.924,944,977,984,1044,1089,1093,1157,1159 & 1498 of 2009 ....................................................................Dated this the 7th day of September, 2009. JUDGMENT Ramachandran Nair, J. Connected Income Tax Appeals are filed by the Revenue againstorders of the Tribunal holding that respondents-assessees who areretired Reserve Bank employees, got release from service underVoluntary Retirement Scheme, are entitled to exemption upto Rs.5lakhs covered by Section 10(10C) of the Income Tax Act. StandingCounsel submitted that the respondents are not entitled to the benefitbecause the terms of payment under the scheme are not consistent withRules framed under Rule 2BA of the Income Tax Rules. However, ongoing through Tribunal's orders we find that the Tribunal hasconsidered the terms of VRS and found that the terms substantiallycomply with the requirement of the Rules. We are of the view that thefindings of the Tribunal are on facts in as much as the Tribunal foundthat the terms of retirement satisfied the condition of the Rules. We, therefore, do not find any substantial question of law arising from theorder of the Tribunal and dismiss all the appeals. C.N.RAMACHANDRAN NAIRJudge pms V.K.MOHANANJudge