A.Kumarappan v. CIT (2018) 257 Taxman 318 (Mad.)(HC) R. Banumurthy v.CIT ( 2018) 257 Taxman 578 ( Mad) (HC)

S. 10(10C) : Public sector companies – Voluntary retirement scheme – Employee of bank having opted for voluntary retirement under Voluntary Retirement Scheme was eligible for exemption.

Allowing the petition the Court held that ;employee of bank having opted for voluntary retirement under Voluntary Retirement Scheme was eligible for exemption. Followed Chandra Ranganathan v.CIT ( 2010) 326 ITR 49 (SC) and CIT  v. Koodathil Kalyatan Ambuakshan ( 2009) 309 ITR 113 ( Bom) (HC)