ITA Nos.3078/PUN/2026 & Ors.

Parties Involved

Facts Summary

The appeals pertain to the assessment years 2020-21 and 2021-22, involving various assessees who were employees of Bharat Sanchar Nigam Limited (BSNL). The assessees received compensation under the BSNL Voluntary Retirement Scheme, 2019, and claimed that the entire amount was exempt from tax under section 10(10B) of the Income Tax Act, 1961. The assessees had initially offered the compensation to tax, but later sought exemption based on relevant judicial decisions. The issue before the tribunal was whether the compensation received was a capital receipt exempt from tax or taxable income. The tribunal found that the compensation was indeed exempt from tax under section 10(10B) of the Act.…

Legal Issues

• 1. Whether the amount received from BSNL on account of voluntary retirement is a capital receipt exempt from tax under section 10(10B) of the Act.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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