1998 (2) TMI 42

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.... the instance of the assessee for the assessment year 1982-83, the following question of law is referred to us for our consideration : "Whether, on the facts and circumstances of the case and on a proper construction of the Voluntary Separation Scheme, the sum of Rs. 77,490 can be subjected to tax ?" The assessee was an employee and the assessee received certain payments from his employer at....

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....fore the Income-tax Appellate Tribunal and the Tribunal held that the amount was taxable as profit in lieu of salary within the meaning of section 17(3)(i) of the Act. Challenging the order of the Tribunal, the assessee has sought for a reference and the question of law set out earlier has been referred to us. Mr. P. P. S. Janardhana Raja, learned counsel for the assessee, submitted that a simi....