Compensation for resigning is eligible for tax benefit U/s. 10(10B) as Retrenchment Compensation

Vishnu Mohan T Nair Vs. ITO (ITAT Ahmedabad)

Expression ‘retrenchment’ covers termination of service by the employer for any reason whatsoever except (i) as a punishment inflicted by disciplinary action in accordance with the law and (ii) covered by the negative list appended to the definition of ‘retrenchment’. It is not, it cannot be, the case of the revenue that the termination of service is covered by these two clauses. As a matter of fact, case of the revenue is that there is no t

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