https://www.taxtmi.com/caselaws?id=248135 The tribunal upheld the disallowance of the premium paid for the Keyman Insurance Policies, agreeing that the policies were investment plans and did not qualify as Keyman Insurance Policies under the Income Tax Act and IRDA guidelines. The tribunal found no error in the decisions of the AO and CIT(A) and dismissed the appeal, emphasizing that the policies did not provide significant business benefits in case of the insured's death. The premium paid was deemed ineligible as a business expenditure. en-us Mon, 21 Apr 2014 00:00:00 +0530 Tue, 03 Jun 2014 15:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248135 The tribunal upheld the disallowance of the premium paid for the Keyman Insurance Policies, agreeing that the policies were investment plans and did not qualify as Keyman Insurance Policies under the Income Tax Act and IRDA guidelines. The tribunal found no error in the decisions of the AO and CIT(A) and dismissed the appeal, emphasizing that the policies did not provide significant business benefits in case of the insured's death. The premium paid was deemed ineligible as a business expenditure. Case-Laws Income Tax Mon, 21 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248135