https://www.taxtmi.com/caselaws?id=774693 Balance compensation received on closure of an undertaking was treated as retaining the same exempt character even though it was described as voluntary retirement compensation. Applying prior Tribunal reasoning on receipts from HMT Ltd., the remaining amount was accepted as exempt under section 10(10B) of the Income-tax Act, and the related section 89(1) relief was required to be recomputed in the assessee's favour. The computation was accordingly directed to be revised to reflect the exemption and revised relief. en-us Thu, 10 Jul 2025 00:00:00 +0530 Sat, 12 Jul 2025 08:40:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774693 Balance compensation received on closure of an undertaking was treated as retaining the same exempt character even though it was described as voluntary retirement compensation. Applying prior Tribunal reasoning on receipts from HMT Ltd., the remaining amount was accepted as exempt under section 10(10B) of the Income-tax Act, and the related section 89(1) relief was required to be recomputed in the assessee's favour. The computation was accordingly directed to be revised to reflect the exemption and revised relief. Case-Laws Income Tax Thu, 10 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774693