https://www.taxtmi.com/caselaws?id=764098 ITAT Bangalore held that severance fee received as compensation on voluntary retirement under Compulsory Retirement Scheme constitutes income receipt, not capital receipt. The tribunal upheld the lower authority's decision that severance compensation paid upon employment termination falls within "Profit received in lieu of Salary" under section 17(3)(i) of the Income Tax Act, making it taxable under the head "Salary" rather than being exempt as capital receipt. en-us Fri, 13 Dec 2024 00:00:00 +0530 Fri, 03 Jan 2025 08:45:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764098 ITAT Bangalore held that severance fee received as compensation on voluntary retirement under Compulsory Retirement Scheme constitutes income receipt, not capital receipt. The tribunal upheld the lower authority's decision that severance compensation paid upon employment termination falls within "Profit received in lieu of Salary" under section 17(3)(i) of the Income Tax Act, making it taxable under the head "Salary" rather than being exempt as capital receipt. Case-Laws Income Tax Fri, 13 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764098