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PF balance accumulated post-retirement of employee not eligible for tax exemption: ITAT

October 31, 2018[2018] 98 taxmann.com 362 (Bangalore - Trib.)
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IT: Exemption under section 10(12) is limited to accumulated balance due and payable to an employee up to date of retirement/end of employment; if employee does not withdraw accumulated balance just after retirement, accumulated interest post-retirement of assessee is not eligible for exemption under section 10(12)

IT: Assessee cannot be denied exemption under section 54 to extent of investment in new property where non-completion of construction of flat by builder within stipulated period is beyond control of assessee

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