https://www.taxtmi.com/caselaws?id=152169 Salary paid in lieu of twelve months' notice on termination under an employment contract was held taxable as salary income under the Income-tax Act, 1922. The service agreement allowed the employer to end the employment either on notice or by paying salary instead of notice, so the assessee received only the contractual entitlement and suffered no deprivation of contractual rights. On that basis, the payment was characterised as contractual remuneration, not compensation for loss of office or loss of employment, and therefore fell within the charging provision for salary income. en-us Tue, 26 Mar 1963 00:00:00 +0530 Tue, 06 Aug 2013 18:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152169 Salary paid in lieu of twelve months' notice on termination under an employment contract was held taxable as salary income under the Income-tax Act, 1922. The service agreement allowed the employer to end the employment either on notice or by paying salary instead of notice, so the assessee received only the contractual entitlement and suffered no deprivation of contractual rights. On that basis, the payment was characterised as contractual remuneration, not compensation for loss of office or loss of employment, and therefore fell within the charging provision for salary income. Case-Laws Income Tax Tue, 26 Mar 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152169