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Revised Tax Return Reflects Salary Reduction Due to Refund Under Confidentiality Agreement with Vedanta Ltd; Not Taxable Income.
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....Salary income - reduction in the salary income disclosed in the revised return filed - The assessee had made a refund of an amount on account of provisions contained in the confidentiality and noncompete agreement read with MOU between the assessee and Vedanta Ltd. and therefore, such refund cannot be construed as salary for the purpose of charging to tax. Such amount therefore, is not assessable as income. - AT....