https://www.taxtmi.com/caselaws?id=36899 The court held that compensation received by the assessee from the employer in connection with termination of employment is assessable as profits in lieu of salary under section 17(3)(i) of the Income-tax Act, 1961. The court rejected the argument that broader language from the 1922 Act should apply, emphasizing the need to interpret the specific provisions of the current law. The court declined to consider the application of section 28(ii)(a) as it was not raised before the tax authorities or Tribunal. The court affirmed the taxation of the compensation amount and advised the assessee to pursue any claim under section 28 separately. en-us Tue, 11 Dec 1979 00:00:00 +0530 Thu, 25 Mar 2010 12:28:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36899 The court held that compensation received by the assessee from the employer in connection with termination of employment is assessable as profits in lieu of salary under section 17(3)(i) of the Income-tax Act, 1961. The court rejected the argument that broader language from the 1922 Act should apply, emphasizing the need to interpret the specific provisions of the current law. The court declined to consider the application of section 28(ii)(a) as it was not raised before the tax authorities or Tribunal. The court affirmed the taxation of the compensation amount and advised the assessee to pursue any claim under section 28 separately. Case-Laws Income Tax Tue, 11 Dec 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36899