https://www.taxtmi.com/caselaws?id=66000 The tribunal upheld the Assessing Officer's decision to tax the ex gratia payment as profit in lieu of salary under section 17(3)(i) of the Income-tax Act, 1961, overturning the first appellate authority's decision. The tribunal considered the payment as compensation for loss of employment, falling under the taxable category. Despite being labeled as ex gratia, the payment was deemed taxable due to its nature and purpose. The tribunal emphasized the evolving tax laws regarding such payments and upheld the taxability of the ex gratia payment received by the employee upon voluntary retirement. en-us Sat, 30 Mar 1985 00:00:00 +0530 Sat, 19 Feb 2011 17:35:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66000 The tribunal upheld the Assessing Officer's decision to tax the ex gratia payment as profit in lieu of salary under section 17(3)(i) of the Income-tax Act, 1961, overturning the first appellate authority's decision. The tribunal considered the payment as compensation for loss of employment, falling under the taxable category. Despite being labeled as ex gratia, the payment was deemed taxable due to its nature and purpose. The tribunal emphasized the evolving tax laws regarding such payments and upheld the taxability of the ex gratia payment received by the employee upon voluntary retirement. Case-Laws Income Tax Sat, 30 Mar 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66000