Voluntary payment by employer out of appreciation is outside rigours of section 17(3)(iii)

Mahadev Vasant Dhangekar Vs ACIT (ITAT Pune)

ITAT Pune held that payment made voluntarily by the employer out of appreciation for the employee falls outside the rigours of Section 17(3)(iii) of the Income Tax Act.

Facts- The assessee has taken voluntary retirement from Racold Thermo Private Limited Pune during the year under consideration. Thereafter the assessee has started trading business of Industrial consumable supply in the name of M/s. Laxmi Enterprises. The assesse

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