Eligibility for exemption depends on strict construction of the product description; reapers without binder are ineligible, but confiscation and penal...
Customs jurisdiction defined for Principal Commissioner, Vishakhapatnam, covering specified ports, districts and India's adjacent EEZ; effective on pu...
Delay was condoned, so the assessee's claim was entertained in appeal. The ITAT held that compensation received under the BSNL Voluntary Retirement Scheme, 2019 had the character of retrenchment compensation under section 10(10B) and therefore constituted a capital receipt exempt from tax. The exemption was allowed subject to verification of the necessary details from a revised computation, and the Assessing Officer was directed to grant consequential relief.
Delay was condoned, so the assessee's claim was entertained in appeal. The ITAT held that compensation received under the BSNL Voluntary Retirement Scheme, 2019 had the character of retrenchment compensation under section 10(10B) and therefore constituted a capital receipt exempt from tax. The exemption was allowed subject to verification of the necessary details from a revised computation, and the Assessing Officer was directed to grant consequential relief.
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