Itta/410/2005 Of Commissioner Of Income Tax v. Sri P.lakshminarayana

THE HON’BLE SRI JUSTICE V.V.S.RAOAND THE HON'BLE SRI JUSTICE RAMESH RANGANATHAN ITTA Nos.103, 189, 276, 333, 401 and 410 of 2005 Dated:29.09.2010 Between: Commissioner of Income Tax,Rajahmundry. and …Petitioner Sri S.G.V.V.S.Raju, And others. …Respondent THE HON’BLE SRI JUSTICE V.V.S.RAOAND THE HON'BLE SRI JUSTICE RAMESH RANGANATHAN ITTA Nos.103, 189, 276, 333, 401 and 410 of 2005 COMMON JUDGMENT:(per Hon’ble Sri Justice V.V.S.Rao) In these appeals by the revenue, various orders of learnedIncome Tax Appellate Tribunal are assailed. By impugned orders,the learned Tribunal held that the employees/Officers of AndhraBank and other public sector Banks, which opted for VoluntarilyRetirement Scheme (VRS), are entitled to get exemption underSection 10(10C) of the Income Tax Act as well as the relief underSection 89(1) of the Income Tax Act. It is brought to the notice of this Court that similar ITTAs, beingITTA No.47 of 2003 and batch, were heard along withW.P.No.20173 of 2004 and batch, and a Division Bench of thisCourt by their order dated 24.10.2006 allowed the writ petitions anddismissed the ITTAs filed by the revenue. The Division Benchthereunder held that, “Section 10(10C) has been created to give anadded relief to those who come under a voluntary scheme framedunder the provisions and Section 89 of the Act is applicable toeverybody and is not by way of any relief, whereas Section 10(10C)gives a relief”. Following the Division Bench judgment, these appeals arealso dismissed without any order as to costs. __________________ (V.V.S.RAO, J) ______________________________ (RAMESH RANGANATHAN, J) 29.09.2010vs