Taxman caps SBI retiree’s leave exemption at Rs 3 lakh; but ITAT grants full relief

Under income tax law, SBI staff are treated as non-government employees and, therefore, can claim leave encashment exemption subject to the applicable limit. A retired SBI employee from Jaipur, was unaware of this distinction. When he retired in 2020 he received Rs 9.29 lakh as leave encashment and