SHAILA VINOD HOSUR,BELAGUM vs. ITO WARD 1 BELAGUM, BELAGUM

ITA 322/PAN/2026Status: DisposedITAT Panaji20 August 2026AY 2021-2217 pages
AI SummaryAllowed

What were the facts?

The assessee received an amount under the BSNL Voluntary Retirement Scheme, 2019. The assessee claimed this amount as retrenchment compensation and sought exemption under Section 10(10B) of the Income Tax Act.

What did the Tribunal hold?

The Tribunal held that the amount received under the BSNL Voluntary Retirement Scheme, 2019, is in the nature of retrenchment compensation and is a capital receipt exempt from tax under Section 10(10B) of the Act. The findings of the CIT(A) were set aside.

What were the issues?

Whether the amount received under the BSNL Voluntary Retirement Scheme, 2019, qualifies as retrenchment compensation eligible for exemption under Section 10(10B) of the Income Tax Act.

Which sections of the Income-tax Act were involved?

Section 10(10B),Section 10(10C),Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PANAJI BENCH, ‘SMC’ PANAJI

Before: DR.MANISH BORAD & SHRI VINAY BHAMORE

For Respondent: Shri Mayur Kamble, Sr. DR
Hearing: 19.08.2026Pronounced: 20.08.2026

PER DR. MANISH BORAD, ACCOUNTANT MEMBER :

The captioned appeal at the instance of assessee pertaining to A.Y. 2021-22 is directed against the order framed by Addl/JCIT(A)-10. Mumbai (ld. NFAC) passed u/s 250 of the Income Tax Act 1961. 2. The issue raised by the assessee in this appeal is that whether the amount received by the employees of Bharat

2 Shaila Vinod Hosur

Sanchar Nigam Limited (BSNL) on account of retirement under the BSNL Voluntary Retirement Scheme, 2019 is in the nature of retrenchment compensation and a Capital Receipt, eligible for exemption u/s.10(10B) of the Act.

3.

At the outset, ld. Counsel for the assessee submitted that the issue raised in the instant appeal

The order continues below.

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