https://www.taxtmi.com/caselaws?id=470118 Compensation paid to a workman upon closure of an employer's unit under a closure-linked VRS/VSS package is treated as retrenchment compensation under the explanation to section 10(10B). The package's description as voluntary retirement, voluntary separation, or ex gratia does not alter its essential character where the separation results from the unit's closure. Accordingly, the payment qualifies for exemption under section 10(10B), rather than being treated as voluntary retirement compensation under section 10(10C). en-us Tue, 16 Aug 2022 00:00:00 +0530 Thu, 16 Jul 2026 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470118 Compensation paid to a workman upon closure of an employer's unit under a closure-linked VRS/VSS package is treated as retrenchment compensation under the explanation to section 10(10B). The package's description as voluntary retirement, voluntary separation, or ex gratia does not alter its essential character where the separation results from the unit's closure. Accordingly, the payment qualifies for exemption under section 10(10B), rather than being treated as voluntary retirement compensation under section 10(10C). Case-Laws Income Tax Tue, 16 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470118