BSNL VRS-2019 Compensation Exempt as Retrenchment Compensation: ITAT Pune

Avinash Arvind Kulkarni Vs ITO (ITAT Pune) The ITAT Pune disposed of four appeals filed by two assessees for Assessment Years 2020-21 and 2021-22 involving a common issue regarding the taxability of amounts received under the BSNL Voluntary Retirement Scheme (VRS), 2019. The principal question was whether the compensation received by BSNL employees under the scheme constituted retrenchment compensation eligible for exemption under Section 10(10B) of the Income-tax Act or voluntary retirement compensation covered by Section 10(10C). The assessees submitted that the issue was fully covered by th...