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BSNL VRS-2019 Ex-gratia Fully Exempt Under Section 10(10B): Surat ITAT
Case Law Details
- Case Name
- Ashokchandra Chandulal Gheewala Vs ITO (ITAT Surat)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Surat
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Ashokchandra Chandulal Gheewala Vs ITO (ITAT Surat)
Surat ITAT Holds BSNL VRS-2019 Ex-gratia Eligible for Full Exemption as Retrenchment Compensation under Section 10(10B)
The Surat Bench of the ITAT held that ex-gratia compensation received by BSNL employees under the BSNL Voluntary Retirement Scheme (VRS), 2019 is in the nature of retrenchment compensation and is eligible for exemption under section 10(10B) of the Income-tax Act, rather than the limited exemption available under section 10(10C).
The assessee, a retired BSNL employee, had initially offered the VRS compensation to tax after cl...
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