YUWARAJ RAMDAS KAPGATE,MUMBAI vs. ITO, WARD-1, BHANDARA, BHANDARA

ITA 562/NAG/2026Status: DisposedITAT Nagpur07 August 2026AY 2021-202213 pages
AI SummaryAllowed

What were the facts?

Employees of BSNL received amounts under a Voluntary Retirement Scheme (VRS) in 2019. The assessees claimed this amount as retrenchment compensation, eligible for exemption under Section 10(10B) of the Income Tax Act.

What did the Tribunal hold?

The Tribunal held that the amounts received under the BSNL VRS, 2019, are in the nature of retrenchment compensation and are capital receipts exempt from tax under Section 10(10B) of the Income Tax Act.

What were the issues?

Whether the amount received by BSNL employees under the Voluntary Retirement Scheme is retrenchment compensation eligible for exemption under Section 10(10B) or falls under Section 10(10C).

Which sections of the Income-tax Act were involved?

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

AI-generated summary — verify with the full judgment below

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

Before: DR.MANISH BORAD

For Respondent: Ms. Jaya Lakhwani

Assessee(s) by : Shri Tanzil Padvekar (through virtual)

Revenue by : Ms. Jaya Lakhwani (through virtual)

Date of hearing : 07.08.2026 Date of pronouncement :

The order continues below.

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