RAM DATTATRAY KALDATE,AURANGABAD vs. INCOME TAX OFFICER WARD 1(1), AURANGABAD, AURANGABAD

ITA 2177/PUN/2025Status: DisposedITAT Pune09 June 2026AY 2019-2020 pages
AI SummaryAllowed

What were the facts?

The assessee, an ex-employee, received a voluntary retirement settlement amount. The AO restricted the relief claimed under Section 89, while the CIT(A) held the amount taxable under Section 56(2)(xi) and upheld the restricted relief.

What did the Tribunal hold?

The Tribunal held that the amount received under the voluntary retirement scheme does not constitute termination of employment and is not taxable under Section 56(2)(xi). The additions made by the lower authorities were deleted.

What were the issues?

Whether the voluntary retirement settlement amount is taxable under Section 56(2)(xi) and whether relief under Section 89 is admissible.

Which sections of the Income-tax Act were involved?

Section 89,Section 56(2)(xi),Section 10(10C),Section 80JJAA,Section 17(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH, PUNE

Before: SHRI R.K. PANDA & MS. ASTHA CHANDRA

For Appellant: Shri Nikhil S Pathak &
For Respondent: Shri Sandip Pawar

PER ASTHA CHANDRA, JM :

The appeal filed by the assessee is directed against the order dated 24.07.2025 of the Ld. Commissioner of Income Tax (Appeals)/NFAC, Delhi [“CIT(A)/NFAC”] pertaining to Assessment Year (“AY”) 2019-20. 2. Briefly stated facts of the case are that the assessee is an individual and ex-employee of M/s. Pfizer Healthcare India Pvt. Ltd., Aurangabad (“Pfizer India”). For AY 2019-20, the assessee filed his return of income on 29.07.2019 declaring income of Rs.60,34,360/- and claiming relief of Rs.18,28,958/- u/s 89 of the Income Tax Act, 1961 (the “Act”). The case of t

The order continues below.

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