SHOBH NATH SHARMA,LUCKNOW vs. ITO -1(4), LUCKNOW, LUCKNOW
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Income Tax Appellate Tribunal, SMC BENCH, LUCKNOW
Before: SHRI. SUDHANSHU SRIVASTAVA
This appeal has been preferred by the Assessee against the order dated 11.03.2026, passed by the Addl/JCIT(A)-1, Ahmedabad for Assessment Year 2016-17. 2.0 The brief facts of the case are that the assessee was an employee of HMT Watches Ltd. and received compensation under the Voluntary Retirement Scheme (VRS) of Rs.42,95,051 pursuant to the closure of the undertaking, as approved by the Government of India vide Press Note dated 6th January, 2016 issued by the Ministry of Heavy Industries and Public Enterprises, Department of Heavy Industry, and Office Order No. MDW/05/2015-16 dated 20th January, 2016 issued by HMT Ltd., Bengaluru. The assessee had filed his return of income for the year under consideration on 05.08.2016, declaring a total
ITA No.459/LKW/2026 Page 2 of 6 income of Rs.43,45,887/- after c
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