9911796707
TMI Blog1980 (4) TMI 143X X X X Extracts X X X X X X X X Extracts X X X X ..... f the order dt. 5th Oct, 1979 of the Tribunal in ITA 37 (Bom) of 1979: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the whole of the compensation stipulated for payment on retirement on grounds of redundance had not accrued to the assessee and hence was not taxable in the asst. yr. 1977-78?" In as much as, in our opinion, no referable ques ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r, 1978. The assessee accepted the said offer and received the first instalment during the previous year under consideration. This amount has been duly taxed as "salary" and there is no dispute about it. But, the ITO taxed the second and third instalments also as income of the previous year under consideration. The case of the ITO was that though the income was not yet payable, yet the assessee go ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... facts on record and held as below: "In our opinion, the contentions raised by the assessee carry force. We have gone through the aforesaid decision of the Tribunal and we are in respectful agreement with the reasoning given and the conclusions arrived at therein. Admittedly, the amount under dispute has been taxed under the head "salaries". Sec. 15 of the Act says that "salary due from an employ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee or became receivable by the assessee during the previous year under consideration and the Tribunal, after considering the contentions of both the parties as well as the facts on record, came to the conclusion that the amount neither accrued due nor became receivable by assessee during the previous year. The finding of the Tribunal was essentially one of fact giving rise to no referable ..... X X X X Extracts X X X X X X X X Extracts X X X X
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