https://www.taxtmi.com/caselaws?id=13008 The High Court of MADRAS determined that a lump sum received in commutation of pension under the Income-tax Act, 1961 for the assessment year 1974-75 was taxable. The Court held that the lump sum payment constituted taxable income under section 10(10A)(iib) of the Act, rejecting the argument that it was a capital receipt. The judgment favored the Revenue, ruling against the assessee's claim of exemption from taxation and upholding the inclusion of the commuted pension amount in the total income. en-us Mon, 20 Aug 2001 00:00:00 +0530 Mon, 25 May 2009 18:23:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13008 The High Court of MADRAS determined that a lump sum received in commutation of pension under the Income-tax Act, 1961 for the assessment year 1974-75 was taxable. The Court held that the lump sum payment constituted taxable income under section 10(10A)(iib) of the Act, rejecting the argument that it was a capital receipt. The judgment favored the Revenue, ruling against the assessee's claim of exemption from taxation and upholding the inclusion of the commuted pension amount in the total income. Case-Laws Income Tax Mon, 20 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13008