https://www.taxtmi.com/caselaws?id=191796 Termination payments under a service agreement were held to be taxable salary-related income because they arose from the contract itself and were not shown to be solely compensation for loss of employment. The payment included a terminal sum for past services and notice-period salary, both treated as contractual entitlements rather than damages or solatium, so section 7(1) with Explanation 2 applied. Interest awarded under a decree on an enforceable monetary claim was also treated as income, including amounts described as damages up to suit and interest thereafter. The entire interest sum was therefore taxable, and both questions were answered against the assessee. en-us Wed, 15 Mar 1961 00:00:00 +0530 Sat, 22 Apr 2017 13:51:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191796 Termination payments under a service agreement were held to be taxable salary-related income because they arose from the contract itself and were not shown to be solely compensation for loss of employment. The payment included a terminal sum for past services and notice-period salary, both treated as contractual entitlements rather than damages or solatium, so section 7(1) with Explanation 2 applied. Interest awarded under a decree on an enforceable monetary claim was also treated as income, including amounts described as damages up to suit and interest thereafter. The entire interest sum was therefore taxable, and both questions were answered against the assessee. Case-Laws Income Tax Wed, 15 Mar 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191796