https://www.taxtmi.com/caselaws?id=14293 The case involved an assessment year where the assessee sought relief under section 89(1) of the Income-tax Act for leave encashment. Initially rejected, the Tribunal ruled in favor of the assessee, determining the encashment as "profits in lieu of salary" under section 17(3)(ii). The High Court upheld this decision, emphasizing that section 89(1) applies to such payments. Additionally, the Tribunal found that the leave encashment, combined with regular salary, constituted salary for more than 12 months, further supporting the assessee's position. The judgment clarifies the correct categorization of payments under the Act for tax assessment purposes. en-us Fri, 03 Nov 2000 00:00:00 +0530 Wed, 15 Jul 2009 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14293 The case involved an assessment year where the assessee sought relief under section 89(1) of the Income-tax Act for leave encashment. Initially rejected, the Tribunal ruled in favor of the assessee, determining the encashment as "profits in lieu of salary" under section 17(3)(ii). The High Court upheld this decision, emphasizing that section 89(1) applies to such payments. Additionally, the Tribunal found that the leave encashment, combined with regular salary, constituted salary for more than 12 months, further supporting the assessee's position. The judgment clarifies the correct categorization of payments under the Act for tax assessment purposes. Case-Laws Income Tax Fri, 03 Nov 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14293