Bombay High Court Holds Leave Encashment on Resignation Taxable as Perquisite Under Section 17(3)(i) r/w Section 17(1)(iv) of Income-tax Act, 1961. The court ruled that the sum of Rs. 95,000 received by the assessee upon resignation from employment is a perquisite and liable to tax.
25 Jul 2005The case is an income tax reference under section 256 of the Income-tax Act, 1961, arising from the assessment year 1980-81. The assessee, Shri B.K. K...




