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of <h1>Madras High Court to Decide on Taxability of Leave Encashment; Income-tax Department Challenges Tribunal Ruling.</h1> The circular addresses the taxability of leave encashment, referencing a decision by the Income-tax Appellate Tribunal, Madras Bench, which ruled that encashed leave amounts are not taxable. However, the Income-tax Department disagrees with this decision and has taken the matter to the Madras High Court. The department maintains that encashment amounts, whether received during service or upon retirement, should be considered taxable as part of salary income. All Income-tax Officers, especially those handling salary assessments, are instructed to adhere to the department's stance on this issue.
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