Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
Personal hearing requirements in GST adjudication were satisfied by prior opportunities and written submissions; appellate limitation received writ-pe...
Profits in lieu of salary u/s 17(3)(i) - payment received by the assessee as lump sum amount after his termination from service and sum received for the purchase of new car - The Tribunal noted the argument of the assessee that these payments were voluntary and not conditioned by any legal duty or obligation. Relying on legal precedents, including a decision from the Delhi High Court, the Tribunal concluded that voluntary payments made by the employer, not arising from a legal duty, are not to be treated as profits in lieu of salary under Section 17(3)(i). Therefore, the Tribunal upheld the decision of the CIT(A) to delete the addition of these amounts to the assessee's income.
Profits in lieu of salary u/s 17(3)(i) - payment received by the assessee as lump sum amount after his termination from service and sum received for the purchase of new car - The Tribunal noted the argument of the assessee that these payments were voluntary and not conditioned by any legal duty or obligation. Relying on legal precedents, including a decision from the Delhi High Court, the Tribunal concluded that voluntary payments made by the employer, not arising from a legal duty, are not to be treated as profits in lieu of salary under Section 17(3)(i). Therefore, the Tribunal upheld the decision of the CIT(A) to delete the addition of these amounts to the assessee's income.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
