https://www.taxtmi.com/caselaws?id=26995 The High Court of Gujarat ruled in favor of the assessee, holding that the gratuity received by an individual managing director under an agreement falls within the exemption of section 10(10) of the Income-tax Act. The court emphasized that gratuity is not limited to a one-time payment upon retirement but can also apply when an individual retires, earns gratuity, and subsequently re-enters employment under a new agreement. The court concluded that the payment made under the 1967 agreement qualifies as gratuity under section 10(10), allowing the assessee to claim exemption as per the section. en-us Mon, 24 Sep 1984 00:00:00 +0530 Wed, 10 Feb 2010 10:26:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26995 The High Court of Gujarat ruled in favor of the assessee, holding that the gratuity received by an individual managing director under an agreement falls within the exemption of section 10(10) of the Income-tax Act. The court emphasized that gratuity is not limited to a one-time payment upon retirement but can also apply when an individual retires, earns gratuity, and subsequently re-enters employment under a new agreement. The court concluded that the payment made under the 1967 agreement qualifies as gratuity under section 10(10), allowing the assessee to claim exemption as per the section. Case-Laws Income Tax Mon, 24 Sep 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26995