Section 17(3) of the Income Tax Act

Smt. Swati Sameer Joshi, Mumbai vs. Income Tax Office Ward 34(3)(4), Mumbai

In the result, Assessee’s appeal is allowed

Bench: Shri Narender Kumar Choudhry & Shri Arun Khodpiaassessment Year: 2017-18 Smt. Swati Sameer Joshi, Income Tax Officer, A2/5/6, Millennium Towers, Ward 34 (3)(4), Sector 9, Sanpada, Vs. C-41 To C-43 G Block Navi Mumbai – 400705. Kautilya Bhavan Bkc Pan – Aaypl4845J Bandra East, Mumbai - 400051 (Appellant) (Respondent) Present For: Assessee By : Shri Sameer Dalal, Ld. A.R. Revenue By : Shri Aditya Rai, Ld. Sr. D.R. Date Of Hearing : 07.04.2026 Date Of Pronouncement : 30.04.2026 O R D E R Per : Narender Kumar Choudhry: This Appeal Has Been Preferred By The Assessee Against The Order Dated 21.11.2025, Impugned Herein, Passed By The Ld. Commissioner Of Income Tax (Appeals) (In Short Ld. Commissioner) U/S 250 Of The Income Tax Act, 1961 (In Short ‘The Act’) For The A.Y. 2017-18. 2. In The Instant Case, The Assessee Was An Employee Of Royal Bank Of Scotland Pls Bank (In Short, ‘Bank’) Since 01.01.1998. Somehow, The Bank Has Closed Down Its Operation In India W.E.F. 19.01.2016 & Entered Into A ‘Mutual Exit Agreement’ Executed Between The Bank & Its Employee On Dated 02.08.2016, According To Which The Assessee Had Received The Following Amounts: 2 Smt. Swati Sameer Joshi