https://www.taxtmi.com/caselaws?id=390795 The High Court allowed the appeal, ruling that the receipt of Rs. 60,96,818/- is not taxable in the hands of the assessee under Section 10(24) of the Income Tax Act, 1961. The Court held that the amount received was exempt as it was incidental to resolving disputes between workers and the employer, aligning with the welfare objectives of the union. The Court found that the penalty proceedings for concealment of income may not hold as the income was not taxable in the first place. en-us Tue, 07 Jan 2020 00:00:00 +0530 Wed, 04 Mar 2020 17:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390795 The High Court allowed the appeal, ruling that the receipt of Rs. 60,96,818/- is not taxable in the hands of the assessee under Section 10(24) of the Income Tax Act, 1961. The Court held that the amount received was exempt as it was incidental to resolving disputes between workers and the employer, aligning with the welfare objectives of the union. The Court found that the penalty proceedings for concealment of income may not hold as the income was not taxable in the first place. Case-Laws Income Tax Tue, 07 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390795