The Tribunal held that the assessee has failed to produce certificate from Employer (SBI) that he as opted for retirement as per the exist option scheme in accordance with the guidelines formulated in Rule 28A. Accordingly the denial of exemption is held to be valid. (AY. 2008-09)
Krishnan Achary v. ITO (2021) 199 DTR 169 (Cochin)(Trib.)
S. 10(10C) : Public sector companies-Voluntary retirement scheme-Exist option scheme-Failure to produce certificate from the employer-Not entitle to exemption. [R. 2BA]