Thursday, May 29, 2014

[aaykarbhavan] ITAT : Holds keyman insurance policy assignment as ‘malafide’ applying McDowell; Surrender value taxable



May 29 2014
ITAT reverses CIT(A)'s order, holds surrender value of 'keyman insurance policy', taken on assessee-partner by firm taxable in assessee's hand, being receiver of amount; 

courtesy:taxsutra
 
Regards
Prarthana Jalan


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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>


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