1985 (12) TMI 115

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....C granting exemption under section 10(10B) of the Income-tax Act, 1961 ('the Act'). 2. The assessee was working as Chief Executive (Administration) with the New Demco Engg. Products (P.) Ltd. His services were terminated on 14-8-1976. He raised a dispute and the matter was settled by arbitration. The award dated 17-4-1977 by the arbitrator granted him Rs. 28,000 as compensation for termination ....

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....e, be considered as a workman. Reliance was also placed on the decision of the Tribunal in the case of P.L. Goel v. ITO [1985] 12 ITD 137 (Delhi). 4. On a consideration of the rival submissions, we are of the opinion that the revenue is entitled to succeed. Under section 17 of the Act, salary includes profits in lieu of salary and sub-section (3) defines 'profits in lieu of salary' to include c....

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....n to the section states that the expression 'workman' shall have the same meaning as in the Industrial Disputes Act. The scope of the section has to be understood in reference to the Industrial Disputes Act, because if every person who carries out some work in the course of his employment is to be considered as a workman, then the definition in section 17 would become meaningless. It is seen from ....