https://www.taxtmi.com/caselaws?id=8034 Premium paid under a pure endowment assurance policy without profits qualified for rebate because the payment was made to effect or keep in force insurance on the assessee's own life. A policy under which the assured sum is payable on survival to maturity, with premiums refunded if death occurs earlier, was treated as a contract of life insurance since the liability depends on a contingency linked to human life. The broader statutory meaning of life insurance business also covered such a contingency-based contract. The referred question was answered in the affirmative, in favour of the assessee. en-us Tue, 08 Sep 1970 00:00:00 +0530 Fri, 27 Mar 2009 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8034 Premium paid under a pure endowment assurance policy without profits qualified for rebate because the payment was made to effect or keep in force insurance on the assessee's own life. A policy under which the assured sum is payable on survival to maturity, with premiums refunded if death occurs earlier, was treated as a contract of life insurance since the liability depends on a contingency linked to human life. The broader statutory meaning of life insurance business also covered such a contingency-based contract. The referred question was answered in the affirmative, in favour of the assessee. Case-Laws Income Tax Tue, 08 Sep 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8034