PANKAJKUMAR CHHOTALAL KADWASHETH,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD 7(2)(1), VEJALPUR

ITA 1303/AHD/2026Status: DisposedITAT Ahmedabad06 July 20266 pages
AI SummaryAllowed

What were the facts?

The assessee received Voluntary Retirement Scheme (VRS) compensation from BSNL, which was offered to tax due to lack of awareness of exemption provisions. The CIT(A) dismissed the appeals due to delay in filing. The assessee became aware of the exemption under Section 10(10B) after a favorable ITAT judgment.

What did the Tribunal hold?

The Tribunal held that the VRS compensation is eligible for exemption under Section 10(10B) of the Income Tax Act, following the precedent set by coordinate benches. The Assessing Officer was directed to grant the relief to the assessee.

What were the issues?

Whether VRS compensation is eligible for exemption under Section 10(10B) and if the delay in claiming the exemption should be condoned.

Which sections of the Income-tax Act were involved?

Section 10(10B),Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “SMC” BENCH, AHMEDABAD

Before: SHRI SANJAY GARG & SHRI NARENDRA PRASAD SINHA

For Appellant: Shri Suchit Patel, AR
Hearing: 01/07/2026Pronounced: 06/07/2026

Per Sanjay Garg, Judicial Member:

The captioned both appeals relate to the same assessee and are against separate orders passed by the Ld. Commissioner of Income Tax (Appeals), Thane (hereinafter referred to as “CIT(A)”), both dated 09.03.2026 passed under Section 250 of the Income Tax Act, 1961 (hereinafter referred to as the “Act”) and relates to Assessment Year (A.Y.) 2020-21 & 2021-22. ITA Nos.1302 & 1303/Ahd/2026[Pankajkumar Chhotalal Kadwasheth vs. ITO] A.Ys. 2020-21 & 2021-22 - 2 –

The order continues below.

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