https://www.taxtmi.com/caselaws?id=290779 A recurring life allowance paid in consideration of long services rendered was treated as taxable income, not a capital sum or windfall. The payment was held to fall within the statutory concept of income and, more specifically, the inclusive definition of salary, which extends to annuity, pension, gratuity, fees, commissions, perquisites, or profits in lieu of or in addition to salary or wages. As no applicable exemption was shown, the monthly allowance was assessable to income tax. en-us Thu, 04 Feb 1937 00:00:00 +0530 Thu, 15 Oct 2020 12:29:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290779 A recurring life allowance paid in consideration of long services rendered was treated as taxable income, not a capital sum or windfall. The payment was held to fall within the statutory concept of income and, more specifically, the inclusive definition of salary, which extends to annuity, pension, gratuity, fees, commissions, perquisites, or profits in lieu of or in addition to salary or wages. As no applicable exemption was shown, the monthly allowance was assessable to income tax. Case-Laws Income Tax Thu, 04 Feb 1937 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290779