...the provisions of clause (3) of Section 17 is a profit in lieu of salary, his income is assessed at a higher rate than that it would otherwis...and above what he would have earned if he was continued in service without doing any work as the lump sum payment of 8 years' salary invested at 15 per cent interest (it being the current...that compensation on the basis of 50 per cent of his annual salary and allowances is much more to his advantage. We are thus satisfied that compensation in lieu of reins...

...not liable to pay tax. The rule as amended in 2001 has taken away the right of the assessee to claim that there was no concession as envisaged by Section 17(2)(ii) and h..., it may be appropriate if we refer to the relevant provisions of the Act, the Rules and important decisions on the point. Section 17 of the Act defines “salary”, “perquisite” and “profit...valued as the difference between the actual rent paid and 10 per cent of the salary. What has happened in this case is that the Revenue has put the cart before the horse and assumes that ...

...the head “Salary”. For that purpose, we have to refer to Section 17 of the Act to find out as to what meaning can be given to the phrase “profits ..., there was no necessity to give such an exhaustive definition of the word “salary” in Section 17 of the Act and to connect it with “profits in lieu ....(3) The leave encashment linked with leave travel concession is taxable, being the “profits in lieu of salary” within the meaning of ...

...gentlemen in lieu of which the commission is claimed to have been paid” and there being no evidence to show that the increase in sales during the relevant accounting year was due...year and there was nothing to show that the increase in the turnover during the relevant accounting year was as a result of any extra efforts made by these two employees and hence it could not be ...also took the same view and held that since there was no proof to show that any services were rendered by Saheb Dayal and Gurditta Mal for which payment of commission in addition to salary and bon...

...the example given, no cricket matches are in fact organised.17. The next question that arises is as to what is the meaning of the expression “activi...there is essentially, no change in the basis of determination of what amounts to a trade, commerce or business and therefore the tests as laid down in Surat Art Silk (su...enactment of an expanded list of what cannot be done by GPU charities if they are to retain their characteristic as charities, is an emphatic manner in which Parliament wished ...

...Act would also clearly apply. That section no doubt indicates nothing as to the principle of apportionment. But there is no difficulty in the present case since it is ag...the total business in succession as in this case and not in concurrence. If, what arises on such continuous and successive functioning of two persons is the joint remuneration ...:“Can he sue for a proportionate part of the salary for the current year?... What he would have been entitled to if he continued in their service until the end ...

...honorarium of Rs 70,000 per month whereas his predecessor CEO was getting a total salary of Rs 1,67,284; and that the Commission asking the fifth respondent to remain in charge as CEO was...Opposite Party 3, who is a retired officer and the Chairman of CESU could not have been appointed as CEO.12.3 If the post of CEO in the organisation falls vac...be done with care, caution and circumspection. We have a reason to say so, as in the case at hand there has been a fallacious perception not only as regards the merits of the case but also ...

...is entitled to deduct therefrom depreciation admissible under Section 32(1) of the Income Tax Act, that is, such percentage on the written down value as may, in the case of each ...its installation. Section 34(3) of that Act provides, however, that the said allowance shall not be given unless an amount equal to 75 per cent of the development rebate to be allowed ...required while computing its gross profit to add the development rebate and as footnote 1 in that Schedule shows “to the extent charged to profit and loss account”, that is, Rs 7...

...of the counter-affidavit and wrongly proceeded on the basis as if Respondents 3 and 4 had, subject to certain conditions, agreed to provide revised salary from 1-1-1996. In fact .... 1(3)/86-DPE (WC) dated 12-4-1993 and 17-1-1994. These conditions prescribe that there shall be no increase in labour cost per physical unit of output. The Government shall not provide any budget...of revised salary had been made yet it was mentioned in the order that “the petitioner is prepared to accept the offer of the respondent”. No final order has been passed recording any compromise ...

.... By “Sub-section (3) it is provided that principle of “set-on” and “set-off” as illustrated in the Fourth Schedule shall apply to all other cases not covered by sub-section (1) ...particular year would be liable to be dealt with differently if in respect of a previous year (covered by Section 33) there is a dispute pending between the employer and the workmen ...:Provided that nothing contained in this sub-section shall entitle any employee to be paid bonus exceeding twenty per cent of the ...

...the sum of Rs 16,188 paid to the Managing Director by way of pay in lieu of six months' notice was allowable as a deduction under Section 10 of the Indian Income Tax Act...resolution the gratuity was paid “for long and valuable services to the assessee”, that there was nothing to indicate that Mr J.H Philips had accepted a lower salary in expectation of get...claiming exemption under Section 10(2)(xv) of the Act, this Court observed as follows:“In our opinion the proper test to apply in this case is, was t...

...have been to their owners in their profit-earning capacity during those days, in lieu of that receipt, this money was paid to the owners, although they were not requisitioned, as...Act. It is thus obvious that though the English cases may be of some help in an indirect way by focussing one's attention on what is to be regarded as ...period was made up. That may be true if one is going to determine standard profits of a particular period, because what is paid goes to profits in the period but is ...

...enforceability of the judgment. Nevertheless, the two could be viewed as separable sets of rights. If the right conferred by the judgment independently is sought to be set aside, Section ...out Regulation 58 in its present form as that is the form in which it stood throughout the relevant period. It will be a matter for consideration as to what is the effect ...of the settlement in as far as they relate to the payment of an annual cash bonus to every Class III and Class IV employee of the Corporation at the rate of fifteen ...

...provisions of clause (3) of section 17 is a profit in lieu of salary, or is in receipt of a sum ...the definition of the words “profits in lieu of salary” in section 17(3) of the Act, is an inclusive definition and as per ...amount in excess of Rs. 5,00,000 is taxed in the hands of the assessee as profits in lieu of salary under section 17(3) of t...

...having received in any one financial year salary for more than 12 months or a payment which under the provisions of clause (3) of Section 17 is a profit in ...and it is being paid in one lump sum under the orders of this Court. Therefore, the salary has to be spread over for a period of 12 years as also the compensation in ...Lal Sherya is illegal and/or unjustified and if so to what relief are they entitled?”The Labour Court after an exhaustive and in-depth examination of...

...crucial factor in this case, if I may anticipate myself.21. The spinal issue, then, is as to whether the settlements of 1974 are extant even after the notice under ...which is the only sensible solution:“What this sub-section in effect provides is that if a notice of termination is given by either party ...termination. It is thus clear that in regard to cases which fall under Section 11(2), if as a result of the alteration made by the Central Government any employee does not want ...

...months or a payment which under the provisions of clause (3) of Section 17 is a profit in lieu of salary, his income is assessed at a rate hig...appellant.2. The amount calculated as compensation by this Court is in lieu of back wages and future wages which ought to have been paid from year to year....future service and back wages. On this submission, we invited Mr S.S Khanduja, learned counsel for the respondent to state what would be the adequate compensation in lieu of reinstatement. Mr...

...made to the agents for services rendered. It is difficult to lay down any rule of universal application as to what percentage of profit would be consistent with the paym...cent commission on net sales of the worsted plant. What is more was that the agents agreed to a deduction of 50 per cent of the loss incurred by the assessee Company from their remunerati...in the agreement and there is nothing to show that he could have made any better arrangements or would not have lost the contract if he had failed to enter into the agreement i.e the agre...