https://www.taxtmi.com/caselaws?id=63936 The Tribunal upheld the decision that a testimonial payment of Rs. 1,00,000 received by the assessee from the employer was taxable as income. The payment was deemed to be in the nature of salary due to its direct connection with the services rendered by the assessee as an employee, falling within the scope of "profits in lieu of salary" under Section 17(3)(ii) of the Income-tax Act. The appeal was dismissed, affirming the taxability of the payment. en-us Fri, 11 May 1990 00:00:00 +0530 Wed, 02 Feb 2011 17:39:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63936 The Tribunal upheld the decision that a testimonial payment of Rs. 1,00,000 received by the assessee from the employer was taxable as income. The payment was deemed to be in the nature of salary due to its direct connection with the services rendered by the assessee as an employee, falling within the scope of "profits in lieu of salary" under Section 17(3)(ii) of the Income-tax Act. The appeal was dismissed, affirming the taxability of the payment. Case-Laws Income Tax Fri, 11 May 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63936