https://www.taxtmi.com/caselaws?id=469876 Compensation received on severance of employment under a voluntary settlement linked to closure of the employer's unit was treated as a capital receipt arising from loss of employment and loss of source of income. The ITAT held that such ex-gratia payment was not salary or profit in lieu of salary, and therefore was not taxable in the employee's hands. On that basis, the addition made by the revenue was deleted and relief under section 89(1) was allowed. en-us Tue, 02 Sep 2025 00:00:00 +0530 Tue, 07 Jul 2026 21:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469876 Compensation received on severance of employment under a voluntary settlement linked to closure of the employer's unit was treated as a capital receipt arising from loss of employment and loss of source of income. The ITAT held that such ex-gratia payment was not salary or profit in lieu of salary, and therefore was not taxable in the employee's hands. On that basis, the addition made by the revenue was deleted and relief under section 89(1) was allowed. Case-Laws Income Tax Tue, 02 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469876