ITAT Allows Full Leave Encashment Exemption for Retired SBI Employee

The ITAT has ruled in favor of a retired SBI employee, granting full exemption on leave encashment under Section 10(10AA). The tribunal held that the exemption applies to eligible non-government employees even if employers restrict payouts. The decision provides relief to thousands of bank retirees and clarifies computation norms for leave-encashment exemptions.