https://www.taxtmi.com/caselaws?id=276736 Amount received on termination of service under a contract allowing notice or salary in lieu of notice was treated as contractual remuneration, not as compensation for surrender of an independent right or for breach of contract. Because the payment arose under the employment terms and represented salary payable on early termination, it fell within the salary provisions of the Income-tax Act. The amount was therefore taxable as income from employment and not a capital receipt for loss of employment. en-us Tue, 22 Nov 1960 00:00:00 +0530 Fri, 16 Nov 2018 15:08:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276736 Amount received on termination of service under a contract allowing notice or salary in lieu of notice was treated as contractual remuneration, not as compensation for surrender of an independent right or for breach of contract. Because the payment arose under the employment terms and represented salary payable on early termination, it fell within the salary provisions of the Income-tax Act. The amount was therefore taxable as income from employment and not a capital receipt for loss of employment. Case-Laws Income Tax Tue, 22 Nov 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276736