pls help me

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Whether an employee retiring under Voluntary Retirement Scheme is eligible for relief U/s 89 (1) in addition to Income upto Rs. 5.00 Lacs exempt U/s 10 (10C). If yes, please mention any case law available on the subject preferable of Supreme Court. 

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hi,

 

"Relief u/s 89 is admissbile in respect of the amount received by the assessee-employee from the employer at the time of vol.retirement or seperation" -CIT v . M.Raman [2000] 245 ITR 856(Mad.) -

to supersede the above ruling, s.10(10C) has been amended :

From AY. 2010-11 , Section  10(10C) has been amended to provide that the person who has availed relief u/s 89 in respect of compensation for vol.retirement or seperation or termination of services , will not be able to claim any exemption u/s 10(10C) for the same assessment year or any other assessment year.

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