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1997 (10) TMI 17 - MADRAS HIGH COURT
Extract:
.......able under the provisions of the Act. We hold that the amount received for encashment of the leave salary would be a profit in lieu of salary and, therefore, taxable as salary. Accordingly, we answer the question of law referred at the instance of the Revenue in the negative and in favour of the Revenue. However, there will be no order as to costs.