https://www.taxtmi.com/highlights?id=71334 Characterization of receipts - correct head of income - Surrender proceeds of the ULIP - the above mentioned policy will come under the purview of ‘capital asset’ as per section 2(14) of the Act for which the A.O. is directed to tax the accretion on surrender of the said policy under the head ‘income from capital gains’ and not as ‘income from other sources’ - AT en-us Sat, 05 Aug 2023 08:17:51 +0530 Sat, 05 Aug 2023 08:17:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=71334 Characterization of receipts - correct head of income - Surrender proceeds of the ULIP - the above mentioned policy will come under the purview of ‘capital asset’ as per section 2(14) of the Act for which the A.O. is directed to tax the accretion on surrender of the said policy under the head ‘income from capital gains’ and not as ‘income from other sources’ - AT Highlights Income Tax Sat, 05 Aug 2023 08:17:51 +0530 https://www.taxtmi.com/highlights?id=71334