https://www.taxtmi.com/caselaws?id=181904 The High Court held that exemption for leave encashment payments under section 10(10AA) of the Income-tax Act, 1961 applies only upon retirement, not during ongoing employment. The retrospective amendment from 1984 clarified this, limiting the exemption to retirement-related payments. The Court rejected the Tribunal's broader interpretation, aligning with legislative intent to restrict relief to retiring employees. Consequently, the Court ruled in favor of the Revenue, denying exemption for leave encashment received while in service. en-us Wed, 01 Dec 2004 00:00:00 +0530 Wed, 27 Apr 2016 12:35:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181904 The High Court held that exemption for leave encashment payments under section 10(10AA) of the Income-tax Act, 1961 applies only upon retirement, not during ongoing employment. The retrospective amendment from 1984 clarified this, limiting the exemption to retirement-related payments. The Court rejected the Tribunal's broader interpretation, aligning with legislative intent to restrict relief to retiring employees. Consequently, the Court ruled in favor of the Revenue, denying exemption for leave encashment received while in service. Case-Laws Income Tax Wed, 01 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181904