https://www.taxtmi.com/caselaws?id=328186 The High Court ruled in favor of the assessee, allowing the deduction for the premium paid on Keyman Insurance Policies of its partners. The Court found that the premium amount debited related to the current assessment year and was in line with the accounting system used by the assessee. Consequently, the revenue's argument that the deduction should not be allowed for the assessment year 2005-06 was rejected. The appeal was dismissed as no substantial question of law arose from the case. en-us Thu, 05 May 2016 00:00:00 +0530 Fri, 27 May 2016 15:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328186 The High Court ruled in favor of the assessee, allowing the deduction for the premium paid on Keyman Insurance Policies of its partners. The Court found that the premium amount debited related to the current assessment year and was in line with the accounting system used by the assessee. Consequently, the revenue's argument that the deduction should not be allowed for the assessment year 2005-06 was rejected. The appeal was dismissed as no substantial question of law arose from the case. Case-Laws Income Tax Thu, 05 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328186