https://www.taxtmi.com/caselaws?id=758947 The ITAT Mumbai held that section 80CCC(2) was not applicable to the assessee as no deduction was claimed under section 80CCC(1). The tribunal ruled that the addition of Rs. 16,39,726 representing accretion value from premature surrender of LIC pension policies under section 56 required examination under section 10(10D) for potential exemption. The matter was remanded to the AO to determine eligibility of surrender proceeds for exemption under section 10(10D). The assessee's appeal was partly allowed. en-us Thu, 29 Aug 2024 00:00:00 +0530 Sat, 21 Sep 2024 08:00:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758947 The ITAT Mumbai held that section 80CCC(2) was not applicable to the assessee as no deduction was claimed under section 80CCC(1). The tribunal ruled that the addition of Rs. 16,39,726 representing accretion value from premature surrender of LIC pension policies under section 56 required examination under section 10(10D) for potential exemption. The matter was remanded to the AO to determine eligibility of surrender proceeds for exemption under section 10(10D). The assessee's appeal was partly allowed. Case-Laws Income Tax Thu, 29 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758947