https://www.taxtmi.com/caselaws?id=214202 The case involved disputes over the taxability of surrender value and maturity amount of life insurance policies assigned to the appellant, the treatment of keyman insurance policy on assignment, and the impact of previous tribunal and high court judgments. The ITAT ruled in favor of the assessee, following the High Court's decision that the difference between premium paid and surrender value is not taxable for the assignee. The appellant's contentions were supported by clarifications from LIC regarding the status of the policies post-assignment, leading to the exemption of maturity amounts but taxation of the premium-surrender value difference. en-us Fri, 11 May 2012 00:00:00 +0530 Thu, 21 Jun 2012 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214202 The case involved disputes over the taxability of surrender value and maturity amount of life insurance policies assigned to the appellant, the treatment of keyman insurance policy on assignment, and the impact of previous tribunal and high court judgments. The ITAT ruled in favor of the assessee, following the High Court's decision that the difference between premium paid and surrender value is not taxable for the assignee. The appellant's contentions were supported by clarifications from LIC regarding the status of the policies post-assignment, leading to the exemption of maturity amounts but taxation of the premium-surrender value difference. Case-Laws Income Tax Fri, 11 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214202