Meaning of tax terms

Meaning of “Amount received”

Posted on by Prashant Thakur

Case Name : Sail dsp vr employees association 1998 Vs. Union of india 

Citation : [2003] 128 taxman 704/262 ITR 638 (cal.)

Court : Kolkata high court

Section : 10(10c)

Meaning : The expression ‘amount received’ even if interpreted literally or grammatically, would be something other than the terminal benefits inasmuch as terminal benefits are otherwise payable on cessation of employment under the provisions of statute

Prashant Thakur

The author has spent more than 30 years in the field of taxation. Wrote four books -3 on on Indian Tax Law and 1 on US tax law for cryptocurrency. Apart from https:taxworry.com , he also writes on https://irstaxapp.com which is for US tax laws. He is a tech enthusiast and manages a cloud computing company that publishes innovative software.

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