Severance Fee Received Under Voluntary Retirement Scheme Taxable as "Profit in Lieu of Salary.

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....ITAT held that severance fee received by assessee under Compulsory Retirement Scheme on voluntary retirement was taxable as "profit in lieu of salary" u/s 17(3)(i), being compensation received at termination of employment. CIT(A) order concluding receipt as income under head "Salaries" was upheld, no infirmity found.....