https://www.taxtmi.com/caselaws?id=304682 The appeal was partly allowed. The first issue regarding the disallowance of Additional Conveyance Allowance was resolved in favor of the assessee based on the exemption under section 10(14) as certified by LIC. The second issue concerning expenses for the LIC business was partially decided in favor of the assessee, allowing a deduction of 30% of the incentive bonus as expenses incurred for increasing the business of LIC. en-us Thu, 17 Mar 2016 00:00:00 +0530 Fri, 14 Oct 2022 20:57:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304682 The appeal was partly allowed. The first issue regarding the disallowance of Additional Conveyance Allowance was resolved in favor of the assessee based on the exemption under section 10(14) as certified by LIC. The second issue concerning expenses for the LIC business was partially decided in favor of the assessee, allowing a deduction of 30% of the incentive bonus as expenses incurred for increasing the business of LIC. Case-Laws Income Tax Thu, 17 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304682