https://www.taxtmi.com/caselaws?id=244428 The Tribunal allowed the assessee's appeal, holding that the premium paid on Keyman Insurance Policies was deductible. The policies were considered as life insurance and purchased before the IRDA circular. The Tribunal emphasized that the policies met the Keyman Insurance criteria and rejected the argument that they were investment schemes. The assignment of policies to partners did not impact premium deduction eligibility, as no maturity value was received. The premium deduction of Rs. 10,00,481 for Keyman insurance policies was allowed. en-us Wed, 12 Feb 2014 00:00:00 +0530 Thu, 20 Feb 2014 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244428 The Tribunal allowed the assessee's appeal, holding that the premium paid on Keyman Insurance Policies was deductible. The policies were considered as life insurance and purchased before the IRDA circular. The Tribunal emphasized that the policies met the Keyman Insurance criteria and rejected the argument that they were investment schemes. The assignment of policies to partners did not impact premium deduction eligibility, as no maturity value was received. The premium deduction of Rs. 10,00,481 for Keyman insurance policies was allowed. Case-Laws Income Tax Wed, 12 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244428