Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
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Retrenchment compensation received by BSNL employees under the 2019 forced retirement scheme was treated as a capital receipt exempt from tax under section 10(10B), not as a limited exemption under section 10(10C), because the payment arose from a retrenchment-style separation scheme linked to the BSNL/MTNL revival plan. The Tribunal also accepted that the assessees could raise the exemption claim in appeal. The contrary view of the CIT(A) was set aside, and the assessees were directed to file revised income computations before the jurisdictional Assessing Officers for verification and consequential refund relief, if any.
Retrenchment compensation received by BSNL employees under the 2019 forced retirement scheme was treated as a capital receipt exempt from tax under section 10(10B), not as a limited exemption under section 10(10C), because the payment arose from a retrenchment-style separation scheme linked to the BSNL/MTNL revival plan. The Tribunal also accepted that the assessees could raise the exemption claim in appeal. The contrary view of the CIT(A) was set aside, and the assessees were directed to file revised income computations before the jurisdictional Assessing Officers for verification and consequential refund relief, if any.
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