Pune ITAT: BSNL VRS Compensation Fully Exempt u/s 10(10B); Delay in Appeal Condoned

Ramesh Bhimshankar Budwatrao Vs ITO (ITAT Pune) Pune ITAT: BSNL VRS Compensation Fully Exempt u/s 10(10B); Delay in Appeal Condoned In a batch of 36 appeals involving former BSNL employees for AYs 2020-21 and 2021-22, the Pune ITAT held that compensation received under the BSNL Voluntary Retirement Scheme (VRS), 2019 is in the nature of retrenchment compensation and qualifies for exemption under section 10(10B) of the Income-tax Act, rather than the limited exemption of ₹5 lakh available under section 10(10C). The Tribunal observed that the employees had originally offered the VRS compensati...