Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Section 80P deduction for co-operative societies remains available despite nominal members and housing society status, with limited interest income tr...
Assessee received retrenchment compensation under a government approved and funded BSNL Voluntary Retirement Scheme. Tribunal applied the protection in the second proviso to section 10(10B), concluding such severance falls within tax exemption and therefore does not form taxable income; accordingly no tax was exigible or required to be deducted from the package. On identical factual matrix to a coordinate Bench decision, the Tribunal allowed the appeals for the relevant assessment years and held the retrenchment compensation exempt under section 10(10B).
Assessee received retrenchment compensation under a government approved and funded BSNL Voluntary Retirement Scheme. Tribunal applied the protection in the second proviso to section 10(10B), concluding such severance falls within tax exemption and therefore does not form taxable income; accordingly no tax was exigible or required to be deducted from the package. On identical factual matrix to a coordinate Bench decision, the Tribunal allowed the appeals for the relevant assessment years and held the retrenchment compensation exempt under section 10(10B).
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