https://www.taxtmi.com/caselaws?id=462430 The Tribunal allowed exemption under section 10(10A) for a lump sum payment of Rs. 28,08,847 received by a private company employee from the employer upon discontinuance of retirement policy during retrenchment. While the CIT(A) had disallowed the exemption arguing it was not commuted pension and section 10(10A) applied only to government employees, the Tribunal held that the exemption extends to private employees and characterized the payment as compensation for loss of employment, constituting a non-taxable capital receipt. The Tribunal directed that the assessee could claim refund of any tax paid on this amount, partially allowing the appeal. en-us Mon, 11 Mar 2019 00:00:00 +0530 Sat, 21 Jun 2025 20:54:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462430 The Tribunal allowed exemption under section 10(10A) for a lump sum payment of Rs. 28,08,847 received by a private company employee from the employer upon discontinuance of retirement policy during retrenchment. While the CIT(A) had disallowed the exemption arguing it was not commuted pension and section 10(10A) applied only to government employees, the Tribunal held that the exemption extends to private employees and characterized the payment as compensation for loss of employment, constituting a non-taxable capital receipt. The Tribunal directed that the assessee could claim refund of any tax paid on this amount, partially allowing the appeal. Case-Laws Income Tax Mon, 11 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462430