https://www.taxtmi.com/caselaws?id=456658 The HC dismissed appeals by the Government of India against a Single Judge's order directing implementation of VRS package for wound-up company employees. The court held that the Central Government's Cabinet Committee had made a policy decision to offer VRS to all workmen, making subsequent departmental opposition redundant. The HC directed Central Government to expedite VRS implementation within two months and deposit required amounts. The court established that workmen have first charge over company assets, with Central Government stepping into workmen's shoes upon VRS implementation. The company was directed not to initiate winding up proceedings that would create charges on others, and no income tax was recoverable from severance packages. en-us Thu, 29 Jun 2017 00:00:00 +0530 Wed, 07 Aug 2024 20:37:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456658 The HC dismissed appeals by the Government of India against a Single Judge's order directing implementation of VRS package for wound-up company employees. The court held that the Central Government's Cabinet Committee had made a policy decision to offer VRS to all workmen, making subsequent departmental opposition redundant. The HC directed Central Government to expedite VRS implementation within two months and deposit required amounts. The court established that workmen have first charge over company assets, with Central Government stepping into workmen's shoes upon VRS implementation. The company was directed not to initiate winding up proceedings that would create charges on others, and no income tax was recoverable from severance packages. Case-Laws Income Tax Thu, 29 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456658