Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
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Compensation paid to BSNL employees under the BSNL Voluntary Retirement Scheme, 2019 was treated as retrenchment compensation because the payment arose from a forced workforce reduction under the Government-approved revival plan. Applying its earlier ruling on the same scheme, the ITAT held that the receipt fell under section 10(10B), not section 10(10C), and was a capital receipt exempt from tax. The assessees were therefore entitled to exemption, with directions to file revised computations before the jurisdictional Assessing Officers for consequential verification and refund, if due.
Compensation paid to BSNL employees under the BSNL Voluntary Retirement Scheme, 2019 was treated as retrenchment compensation because the payment arose from a forced workforce reduction under the Government-approved revival plan. Applying its earlier ruling on the same scheme, the ITAT held that the receipt fell under section 10(10B), not section 10(10C), and was a capital receipt exempt from tax. The assessees were therefore entitled to exemption, with directions to file revised computations before the jurisdictional Assessing Officers for consequential verification and refund, if due.
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