Section 10(10B) Exemption for BSNL VRS Compensation Allowed: ITAT Ahmedabad

Jashvantbhai Ashabhai Patel Vs ITO (ITAT Ahmedabad) The appeal was filed by the assessee against the order of the Commissioner of Income Tax (Appeals) under Section 250 of the Income-tax Act, 1961, for Assessment Year 2021-22. The principal issue was whether compensation received under the BSNL Voluntary Retirement Scheme (VRS)-2019 was eligible for exemption under Section 10(10B) of the Act, despite the assessee not claiming the exemption in the original or revised return of income. The assessee, a salaried employee of BSNL, opted for the Government-approved BSNL VRS-2019 scheme. The compensa...