https://www.taxtmi.com/caselaws?id=247031 The Tribunal allowed the assessee's appeal, following the precedent set in a previous case, ruling that post-assignment, a Keyman Insurance Policy transforms into an ordinary policy. Consequently, the maturity proceeds from such a policy are not taxable under Section 10(10D) of the Income Tax Act. The Tribunal directed the Assessing Officer to grant exemption under Section 10(10D) and dismissed the issue of interest imposition under Sections 234A and 234B as it became irrelevant. en-us Thu, 17 Apr 2014 00:00:00 +0530 Wed, 30 Apr 2014 07:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247031 The Tribunal allowed the assessee's appeal, following the precedent set in a previous case, ruling that post-assignment, a Keyman Insurance Policy transforms into an ordinary policy. Consequently, the maturity proceeds from such a policy are not taxable under Section 10(10D) of the Income Tax Act. The Tribunal directed the Assessing Officer to grant exemption under Section 10(10D) and dismissed the issue of interest imposition under Sections 234A and 234B as it became irrelevant. Case-Laws Income Tax Thu, 17 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247031