https://www.taxtmi.com/caselaws?id=217132 The Income Tax Appellate Tribunal (ITAT) upheld the decision of the Commissioner of Income Tax (Appeals) [CIT(A)], ruling that the sale consideration of units of the insurance policy should be treated as the amount received on maturity, and the cost of investment should be considered as the amount invested by the assessee. The surplus from the policy surrender was deemed as long-term capital gain, subject to tax calculation with the benefit of indexation. The ITAT dismissed the Revenue's appeal, affirming the CIT(A)'s order. en-us Fri, 13 Jul 2012 00:00:00 +0530 Wed, 12 Sep 2012 12:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217132 The Income Tax Appellate Tribunal (ITAT) upheld the decision of the Commissioner of Income Tax (Appeals) [CIT(A)], ruling that the sale consideration of units of the insurance policy should be treated as the amount received on maturity, and the cost of investment should be considered as the amount invested by the assessee. The surplus from the policy surrender was deemed as long-term capital gain, subject to tax calculation with the benefit of indexation. The ITAT dismissed the Revenue's appeal, affirming the CIT(A)'s order. Case-Laws Income Tax Fri, 13 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217132