https://www.taxtmi.com/caselaws?id=64003 The tribunal, by majority view, allowed the deduction of Rs. 2,000 for fire fighting charges under section 24(1)(ii) of the Income-tax Act, 1961, emphasizing a broader interpretation of the terms "premium" and "insure" and the need for consistency in tribunal decisions. The Third Member supported the deduction, stating that the payment for fire safety measures aimed at protecting the property against fire risk qualified for the deduction, despite differing opinions within the tribunal. en-us Thu, 24 Oct 1996 00:00:00 +0530 Thu, 03 Feb 2011 10:56:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64003 The tribunal, by majority view, allowed the deduction of Rs. 2,000 for fire fighting charges under section 24(1)(ii) of the Income-tax Act, 1961, emphasizing a broader interpretation of the terms "premium" and "insure" and the need for consistency in tribunal decisions. The Third Member supported the deduction, stating that the payment for fire safety measures aimed at protecting the property against fire risk qualified for the deduction, despite differing opinions within the tribunal. Case-Laws Income Tax Thu, 24 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64003