ITAT Cancels Rs 9.04L Tax Notice on LIC Leave Encashment
Mrs. Moongia retired from LIC on June 30, 2020, receiving Rs 9.04 lakh as leave encashment. She claimed full tax exemption on this amount, unaware that only Rs 3 lakh was exempt for non-government employees then. The Income Tax Department taxed the remaining Rs 6.04 lakh and issued a notice. After a 1277-day delay, ITAT Jaipur accepted her appeal, citing tax consultant negligence and canceled the notice.
Economic Times··Jaipur




