Assessee a bank employee, retired from service under Exit Option Scheme and received certain ex gratia amount and claimed exemption u/s 10(10)(c) of the Act. AO denied the exemption. Affirming the denial of the exemption the Tribunal held that   that there was no reference regarding fulfilment of conditions prescribed under rule 2BA, assessee’s claim for benefit of exemption under section 10(10C) in respect of ex gratia amount was to be rejected. The Tribunal also held that the employer-Bank (SBI) has also deducted tax at source including the ex-gratia granted to the employee at the time of retirement. In the certificate also, the retirement scheme is mentioned as exit option scheme and there is no reference regarding fulfilment of conditions prescribed under Rule 2BA of the 1962 Rules, which stipulated the criteria for exemption under section 10(10C). (AY. 2008-09)