https://www.taxtmi.com/caselaws?id=58922 Compensation paid under a voluntary separation scheme may qualify for exemption under section 10(10B) where the employees are workmen within section 2(s) of the Industrial Disputes Act, 1947 and are not shown to have been employed mainly in managerial or administrative capacity. The Tribunal noted that such compensation can amount to retrenchment depending on the facts, and that the employer's section 192 obligation is to make an honest and fair estimate of salary income. Section 201 applies only where short deduction is shown to lack bona fide basis. On the materials, the exemption was treated as applicable for the estimate, and the employer was not held to be an assessee in default. en-us Fri, 01 Mar 1996 00:00:00 +0530 Wed, 22 Dec 2010 18:05:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58922 Compensation paid under a voluntary separation scheme may qualify for exemption under section 10(10B) where the employees are workmen within section 2(s) of the Industrial Disputes Act, 1947 and are not shown to have been employed mainly in managerial or administrative capacity. The Tribunal noted that such compensation can amount to retrenchment depending on the facts, and that the employer's section 192 obligation is to make an honest and fair estimate of salary income. Section 201 applies only where short deduction is shown to lack bona fide basis. On the materials, the exemption was treated as applicable for the estimate, and the employer was not held to be an assessee in default. Case-Laws Income Tax Fri, 01 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58922