https://www.taxtmi.com/caselaws?id=462435 The Tribunal held that a lump sum payment of Rs. 56,38,227/- received from an employer upon discontinuance of retirement policy constituted a non-taxable capital receipt rather than income. While acknowledging that section 10(10A) exemption applies to private employees, the Tribunal found the payment was compensation for retrenchment, not commuted pension, making the exemption inapplicable. The Tribunal allowed the assessee's appeal, deleted additions made by AO, and directed refund/adjustment of tax paid on the amount, emphasizing that capital receipts arising from job termination are not subject to income tax. en-us Sat, 06 Apr 2019 00:00:00 +0530 Mon, 23 Jun 2025 10:25:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462435 The Tribunal held that a lump sum payment of Rs. 56,38,227/- received from an employer upon discontinuance of retirement policy constituted a non-taxable capital receipt rather than income. While acknowledging that section 10(10A) exemption applies to private employees, the Tribunal found the payment was compensation for retrenchment, not commuted pension, making the exemption inapplicable. The Tribunal allowed the assessee's appeal, deleted additions made by AO, and directed refund/adjustment of tax paid on the amount, emphasizing that capital receipts arising from job termination are not subject to income tax. Case-Laws Income Tax Sat, 06 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462435