Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
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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