TaxTMI Login
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →Just a moment...
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
Issues: Whether section 10(10AA) of the Income-tax Act, 1961 applies to cash equivalent of leave salary received on resignation or voluntary retirement, even though the payment was not made at the time of superannuation.
Analysis: Section 10(10AA) exempts the cash equivalent of unutilised earned leave standing to an employee's credit at the time of retirement, whether on superannuation or otherwise. The expression "otherwise" was construed to include voluntary retirement and resignation, and retirement was treated as a broad concept covering different modes of cessation of service. The exemption was therefore not confined to retirement on attaining superannuation age alone.
Conclusion: Section 10(10AA) applies to leave encashment received on resignation or voluntary retirement, and the question was answered in favour of the assessee.
TaxTMI 
TaxTMI 
