ITAT Allows Exemption for BSNL VRS Compensation and Leave Encashment

Thimmappa Gowda Anthibettu Vs ITO (ITAT Bangalore) Bangalore ITAT Grants BSNL VRS Employees Exemption for Retrenchment Compensation and Full Leave Encashment In a batch of appeals filed by former BSNL employees who retired under the BSNL Voluntary Retirement Scheme, 2019, the Bangalore ITAT held that the compensation received under the scheme is eligible for exemption under Section 10(10B) as retrenchment compensation. The Tribunal noted that although the employees had originally offered the compensation to tax and the NFAC had dismissed several appeals on grounds of limitation, numerous Tribu...