Dismissing the appeal of the revenue the Court held that; Accumulated balance lying in provident fund of assessee upto retirement is eligible for exemption. (AY. 2012-13)
PCIT v. Dilip Ranjrekar (2019) 260 Taxman 317/177 DTR 158/ 308 CTR 662 (Karn.)(HC)
S. 10(12) : Accumulated balance–Recognised provident fund – Accumulated balance lying in provident fund of assessee upto retirement is eligible for exemption.