Tribunal held that ; the order passed by the Industrial Tribunal was admittedly under the Industrial Disputes Act 1947, and once it was held that the order stood modified so as to take into account the payment of Rs. 6.50 lakhs by the employer, the payment could not but be treated as a compensation under the Industrial Disputes Act, 1947. The first limb of section 10(10B) was thus satisfied. However , that one of the important restrictions on the amount eligible for exemption under section10(10B) was that it should not exceed fifteen days\u2019 average pay for every completed year of services or part thereof in excess of six months. This aspect of the matter had not been examined. Therefore the claim in principle was upheld but the matter was remitted to the Assessing Officer for examination of the quantification. ( AY.2008 -09)<\/p>\n","protected":false},"excerpt":{"rendered":"
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