https://www.taxtmi.com/caselaws?id=262936 The High Court held that the amount received by the appellant on retirement was payment for goodwill and not casual income, as quantified at retirement. The Court determined that the amount was not taxable under Section 10(3) of the Income Tax Act, as it was anticipated and quantified before retirement. Relying on case law and the definition of 'casual,' the Court ruled in favor of the appellant, deeming the amount non-taxable under Section 10(3) and disposing of the appeal accordingly. en-us Thu, 06 Aug 2015 00:00:00 +0530 Sat, 22 Aug 2015 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262936 The High Court held that the amount received by the appellant on retirement was payment for goodwill and not casual income, as quantified at retirement. The Court determined that the amount was not taxable under Section 10(3) of the Income Tax Act, as it was anticipated and quantified before retirement. Relying on case law and the definition of 'casual,' the Court ruled in favor of the appellant, deeming the amount non-taxable under Section 10(3) and disposing of the appeal accordingly. Case-Laws Income Tax Thu, 06 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262936