https://www.taxtmi.com/caselaws?id=204667 The Tribunal upheld the allowability of the premium on keyman insurance policies for key individuals associated with the assessee-company, emphasizing the critical role of these individuals in business profitability. The judgment clarifies the importance of considering both turnover and profitability in evaluating business sustainability and highlights the complexities involved in determining keyman status and the genuine business purpose behind such insurance policies. en-us Fri, 09 Oct 2009 00:00:00 +0530 Sat, 03 Sep 2011 18:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204667 The Tribunal upheld the allowability of the premium on keyman insurance policies for key individuals associated with the assessee-company, emphasizing the critical role of these individuals in business profitability. The judgment clarifies the importance of considering both turnover and profitability in evaluating business sustainability and highlights the complexities involved in determining keyman status and the genuine business purpose behind such insurance policies. Case-Laws Income Tax Fri, 09 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204667