1986 (6) TMI 67

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....d by the assessee upon registration from his former employer M/s. Damoder bulk Carries Ltd, was exempt under s. 10 (10AA) (i) of the IT Act, 1961. The assessee was employed as a Master of Ship belonging to M/s. Damodar Bulk Carriers Ltd. After the period of service he resigned and subsequently took employment in Dempo Steamships. He received leave encasement in respect of accumulated leave standin....

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....luded resignation. 3. The Department is aggrieved by this order and in appeal. We have heard the ld. Departmental representative and the counsel for the assessee. Sec. 10 (10AA) (i) uses the word 'retirement' whether on superannuation or otherwise. The question for consideration is whether resignation by the contract employee under the terms of the contract can amount to retirement on superannu....