SRINIVAS MACHAVOLU,HYDERABAD vs. ITO, WARD-13(3), HYDERABAD

ITA 855/HYD/2026Status: DisposedITAT Hyderabad15 July 2026AY 2021-2214 pages
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What were the facts?

Assessees, employees of BSNL, opted for a Voluntary Retirement Scheme (VRS) in 2019 and received compensation. They later claimed exemption for this compensation under Section 10(10B) of the Income-tax Act, 1961, before the appellate authorities, citing ignorance of law and subsequent favorable judicial precedents.

What did the Tribunal hold?

The Tribunal held that the compensation received by BSNL employees under the VRS-2019 is exempt under Section 10(10B) of the Act. It directed the Assessing Officer to verify the claims and allow the exemption, determining the tax payable or refundable accordingly.

What were the issues?

Whether compensation received under BSNL's VRS-2019 is eligible for exemption under Section 10(10B) and if belated claims for such exemption should be admitted.

Which sections of the Income-tax Act were involved?

Section 10(10B),Section 143(1),Section 246(1)(a),Section 244A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, Hyderabad ‘ SMC ‘ Bench, Hyderabad

Hearing: 13.07.2026Pronounced: 15.07.2026

PER BENCH :

The captioned appeals filed by differe

The order continues below.

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