ITAT Allows Full Tax Exemption on BSNL VRS Compensation as It Qualifies as Retrenchment Compensation

Prathibha Jgadish Unawane Vs ITO (ITAT Pune) Delay in Filing Appeal Condoned Because Substantial Justice Prevails Over Procedural Technicalities;  ITAT Grants Relief to BSNL Employees Because VRS Compensation Was Found to Be a Capital Receipt;  BSNL Employees Can Claim Section 10(10B) Exemption Because Compensation Was Linked to Forced Workforce Reduction In a batch of appeals relating to Assessment Years 2020-21 and 2021-22, the Income Tax Appellate Tribunal (ITAT), Pune, considered a common issue concerning the taxability of amounts received by employees of Bharat Sanchar Nigam Limited (BS...