Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
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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