Chennai Court March 1997 Judgments

Commissioner of Income Tax Vs. M. Raman

Court: Chennai

Reported in: (1999)152CTR(Mad)497

N. V. BALASUBRAMAMM1V, J.At the instance of the Revenue, the Tribunal has stated a case and referred the following question of law under s. 256(1) of the IT Act, 1961, for the asst. yr. 1982-83 for the opinion of the Court :'Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the voluntary retirement from service would fall under the term 'termination of employment within the meaning of s. 17(3)(i) of the IT Act, 1961, and that the relief under s. 89(1) is admissible in respect of the amount received by the assessee-employee from the employer at the time of voluntary retirement? '2. The assessee has taken voluntary retirement from the service and received an amount of compensation at the time of his voluntary retirement. The question that arises is whether the compensation received by the assessee at the time of voluntary retirement would fall within the provisions of s. 17(3)(i) of the IT Act, 1961, that is, whether it can be regarded as ...