https://www.taxtmi.com/caselaws?id=75697 The Rajasthan High Court held that compensation received on voluntary retirement falls under 'profits in lieu of salary' as per section 17(3)(i) of the Income-tax Act, 1961. The court clarified that relief under section 89 is separate from the exemption under section 10(10C) and that an assessee can benefit from both provisions. Section 35DDA was deemed inapplicable to amounts received by employees in voluntary retirement. The court upheld the decision that the assessee was entitled to relief under section 89 despite the exemption under section 10(10C), following the precedent set by the Madras High Court. en-us Wed, 31 Oct 2007 00:00:00 +0530 Thu, 06 May 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75697 The Rajasthan High Court held that compensation received on voluntary retirement falls under 'profits in lieu of salary' as per section 17(3)(i) of the Income-tax Act, 1961. The court clarified that relief under section 89 is separate from the exemption under section 10(10C) and that an assessee can benefit from both provisions. Section 35DDA was deemed inapplicable to amounts received by employees in voluntary retirement. The court upheld the decision that the assessee was entitled to relief under section 89 despite the exemption under section 10(10C), following the precedent set by the Madras High Court. Case-Laws Income Tax Wed, 31 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75697