Search-assessment proviso jurisdiction, time-barred valuation reports, and denial of cross-examination vitiate valuation-based and confession-based ad...
Proceeds of crime: provisional attachment confirmed; equivalent value attachment and acquisition date fair market value upheld, Covid exclusion preser...
Effective service requirement: officers must explore alternative service modes beyond the GST portal and afford personal hearing; non-compliance voids...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
