ITAT Allows Re-Computation of Leave Encashment Exemption Because CBDT Raised Limit to ₹25 Lakh

Narendra Kumar Mishra Vs ITO (ITAT Indore)

The appeal concerned the assessment for AY 2020–21 arising from an assessment order passed under Sections 143(3) read with 144B of the Income-tax Act. The assessee, a differently-abled individual and a former employee of the Department of Telecommunications who was later absorbed into Bharat Sanchar Nigam Limited (BSNL), had retired during the relevant year and received ₹12,85,132 as leave encashment and ₹15,54,304 as ex-gratia under the Voluntary Retirement Scheme (VRS)-2019. In the original return filed under Section 139(1), the as

Please become a Premium member. If you are already a Premium member, login here to access the full content.