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[Cites 0, Cited by 0] [Section 10(10B)] [Section 10] [Entire Act]

Union of India - Subsection

Section 10(10B)(b) in The Income Tax Act, 1961

(b)compensation received by a workman, at the time of the transfer (whether by agreement or by operation of law) of the ownership or management of the undertaking in which he is employed from the employer in relation to that undertaking to a new employer, shall be deemed to be compensation received at the time of his retrenchment if—
(i)the service of the workman has been interrupted by such transfer ; or
(ii)the terms and conditions of service applicable to the workman after such transfer are in any way less favourable to the workman than those applicable to him immediately before the transfer ; or
(iii)the new employer is, under the terms of such transfer or otherwise, legally not liable to pay to the workman, in the event of his retrenchment, compensation on the basis that his service has been continuous and has not been interrupted by the transfer ;