ITAT Pune Deletes Addition on Ex Gratia Payment Received Under Pfizer Exit Scheme

Advertisement Parvez Mukhtar Khan Vs ITO (ITAT Pune) The Income Tax Appellate Tribunal, Pune, considered the assessee’s appeal against the order of the National Faceless Appeal Centre dated 20.03.2024 for Assessment Year 2019-20. The principal issue was whether the amount received by the assessee under the “Pfizer Healthcare India Ltd. Financial Scheme for Employees at Aurangabad 2019” constituted taxable profits in lieu of salary under Section 17(3) of the Income Tax Act, 1961, or was a capital receipt. The assessee, a salaried employee of Pfizer Healthcare India Pvt. Ltd...