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BSNL VRS Compensation Qualifies for Section 10(10B) Exemption: ITAT Panaji
Case Law Details
- Case Name
- Shivnandan Narendra Sanvordekar Vs ITO (ITAT Panaji)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Panaji
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Shivnandan Narendra Sanvordekar Vs ITO (ITAT Panaji)
The appeals concerned a common issue for AYs 2020-21 and 2021-22 regarding whether compensation received by employees of Bharat Sanchar Nigam Limited (BSNL) under the BSNL Voluntary Retirement Scheme (VRS), 2019 constituted retrenchment compensation and a capital receipt eligible for exemption under Section 10(10B) of the Income-tax Act, 1961. The assessees submitted that the issue was squarely covered by the Tribunal’s earlier decision in Prathibha Jagdish Unawane, while the Revenue contended that the payments were ma...
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