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

Sanjay Bajarang Todali Vs ITO (ITAT Pune) Compensation received by BSNL employees under BSNL VRS-2019 constitutes retrenchment compensation exempt under section 10(10B) as a capital receipt, and such exemption cannot be denied merely because the claim was raised for the first time before the appellate authority or due to procedural objections. Core Issue Whether the ex-gratia compensation received by BSNL employees under BSNL Voluntary Retirement Scheme (VRS)-2019 is taxable as voluntary retirement compensation eligible only for exemption under section 10(10C) or is in the nature of retre...