Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
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.
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