https://www.taxtmi.com/caselaws?id=264130 The tribunal allowed the appeal, ruling in favor of the assessee by permitting the deduction of the premium paid on the Keyman Insurance Policy. The tribunal held that the policy qualified as a Keyman Insurance Policy under Section 10(10D) of the Income Tax Act, rejecting the Assessing Officer's argument that it was an investment plan. Additionally, the tribunal determined that Section 14A did not apply in this case, leading to the deletion of the disallowance of Rs. 1,49,99,922. en-us Mon, 31 Aug 2015 00:00:00 +0530 Sat, 05 Mar 2016 18:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264130 The tribunal allowed the appeal, ruling in favor of the assessee by permitting the deduction of the premium paid on the Keyman Insurance Policy. The tribunal held that the policy qualified as a Keyman Insurance Policy under Section 10(10D) of the Income Tax Act, rejecting the Assessing Officer's argument that it was an investment plan. Additionally, the tribunal determined that Section 14A did not apply in this case, leading to the deletion of the disallowance of Rs. 1,49,99,922. Case-Laws Income Tax Mon, 31 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264130