Second Installment of VRS Compensation Cannot Be Taxed When First Allowed: ITAT Chandigarh

Harish Kumar Vs ITO (ITAT Chandigarh) The appeal was filed by the assessee against the order dated 20.12.2024 passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi, for Assessment Year 2021–22. The primary issue in dispute was whether the assessee was entitled to full exemption under section 10(10B) of the Income Tax Act on the compensation received under the BSNL Retirement Scheme 2019, or whether such exemption was restricted to ₹5,00,000 as held by the Assessing Officer. The assessee, a former employee of the Department of Telecommunication Se...