IN THE HIGH COURT OF JUDICATURE AT PATNA MA No.456 of 2007 1. Commissioner Of Income Tax – II, Patna. 2. Assistant Commissioner of Income Tax, Circle-5, Patna ----- Assessing Officers/Appellants. Versus Sri Prabhat Kumar Srivastava, C/O Sri K.K. Sinha, S.K. 45, S.K. Colony, Sector K, Lohia Nagar, Patna. ---- Assessee/Respondent. ----------- 3. 19.5.2011 Heard Mr. Harshwardhan Prasad for the appellants. The Revenue has preferred this appeal under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’), and is directed against the order dated 7.5.2007, passed by the Income Tax Appellate Tribunal, Patna, in ITA No.306/Pat/06 with respect to assessment year 2004-05, whereby the department’s appeal was dismissed. The effect of the impugned order is that the assessee will not be entitled to the benefit of exemption from payment of income-tax in terms of Section 10(10(C) of the Act, with respect to the proceeds of the Optional Early Retirement Scheme of the Reserve Bank of India. We have perused the materials on record and considered the submissions of the learned counsel for the appellants. The issue arising in the present appeal was the subject matter of Appeal No. 53 of 2008 (Commissioner of 2 Income Tax V. Koodathil Kallyatan Ambujakshan), before the Bombay High Court, which was decided against the Revenue, and in favour of the assessee. In other words, the Bombay High Court held that benefit of exemption in terms of Section 10(10C) of the Act shall be available to the assessee. Taking note of the judgment of the Bombay High Court, the Central Board of Direct Taxes (in short ‘CBDT’), issued order dated 9.5.2009, in due observance and implementation of the judgment of the Bombay High Court. The present appeal today comes up at the instance of the learned counsel for the appellants. He seeks permission to withdraw this appeal in view of the judgment of the Bombay High Court, read with the order dated 9.5.2009 of the CBDT. The appeal is permitted to be withdrawn. The assessee shall be entitled to refund of the taxes already realized on the proceeds of the aforesaid scheme, along with the statutory interest from the date of realisation of taxes till the date of the refund. The appeal is accordingly disposed of. Vinay/ ( S. K. Katriar,J. ) ( S. P. Singh, J.)