https://www.taxtmi.com/caselaws?id=15728 The High Court of BOMBAY ruled in a case involving the interpretation of section 17(2) of the Income-tax Act, 1961 that the premium amounts for single premium annuity policies provided by the employer to the assessee were not to be included in the salary income. The Court held that since the annuities did not vest in the assessee during the relevant years and he only had a contingent right to them, the premium amounts could not be taxed as part of the salary income. The decision favored the assessee, and the reference was disposed of accordingly. en-us Tue, 20 Jul 1999 00:00:00 +0530 Thu, 27 Aug 2009 13:18:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15728 The High Court of BOMBAY ruled in a case involving the interpretation of section 17(2) of the Income-tax Act, 1961 that the premium amounts for single premium annuity policies provided by the employer to the assessee were not to be included in the salary income. The Court held that since the annuities did not vest in the assessee during the relevant years and he only had a contingent right to them, the premium amounts could not be taxed as part of the salary income. The decision favored the assessee, and the reference was disposed of accordingly. Case-Laws Income Tax Tue, 20 Jul 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15728