High Court Rules Withdrawn Job Offer Payment as Non-Taxable Capital Receipt, Not 'Profits in Lieu of Salary'.

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....Income as profits in lieu of salary - this was a case where there was no commencement of the employment and that the offer by ACEE to the Assessee was withdrawn even prior to the commencement of such employment. The amount received by the Assessee was a capital receipt and could not be taxed under the head 'profits in lieu of salary' - HC....