https://www.taxtmi.com/caselaws?id=59011 The Tribunal dismissed the departmental appeal and allowed the assessee's appeal for statistical purposes. It held that the payments received under the Voluntary Separation Scheme should be assessed as installments in the year received, rejecting the ITO's contention for taxing the aggregate amount in one year. The Tribunal remanded the issue of the assessee's classification as a workman under the Industrial Disputes Act and the nature of the received amount as retrenchment compensation to the CIT(A) for further examination based on additional evidence, emphasizing the importance of considering relevant court decisions. en-us Mon, 19 Oct 1981 00:00:00 +0530 Thu, 23 Dec 2010 15:44:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59011 The Tribunal dismissed the departmental appeal and allowed the assessee's appeal for statistical purposes. It held that the payments received under the Voluntary Separation Scheme should be assessed as installments in the year received, rejecting the ITO's contention for taxing the aggregate amount in one year. The Tribunal remanded the issue of the assessee's classification as a workman under the Industrial Disputes Act and the nature of the received amount as retrenchment compensation to the CIT(A) for further examination based on additional evidence, emphasizing the importance of considering relevant court decisions. Case-Laws Income Tax Mon, 19 Oct 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59011