https://www.taxtmi.com/caselaws?id=15690 The High Court held that the sum received by the assessee under a Voluntary Separation Scheme is taxable as profit in lieu of salary under section 17(3)(i) of the Income-tax Act for the assessment year 1982-83. The court ruled in favor of the Revenue, upholding the Income-tax Appellate Tribunal's decision that the amount received by the assessee was taxable as salary income, as it met the conditions specified under the Act regarding compensation related to the termination of employment. This judgment clarifies the tax treatment of such payments under the Income-tax Act. en-us Thu, 19 Feb 1998 00:00:00 +0530 Thu, 27 Aug 2009 11:23:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15690 The High Court held that the sum received by the assessee under a Voluntary Separation Scheme is taxable as profit in lieu of salary under section 17(3)(i) of the Income-tax Act for the assessment year 1982-83. The court ruled in favor of the Revenue, upholding the Income-tax Appellate Tribunal's decision that the amount received by the assessee was taxable as salary income, as it met the conditions specified under the Act regarding compensation related to the termination of employment. This judgment clarifies the tax treatment of such payments under the Income-tax Act. Case-Laws Income Tax Thu, 19 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15690