https://www.taxtmi.com/caselaws?id=762029 ITAT Mumbai allowed the assessee's appeal on two issues. First, regarding interest disallowance, the tribunal found that the assessee had already suo moto disallowed Rs. 39,49,392/- from claimed interest deductions of Rs. 2,02,76,955/- against total eligible deductions of Rs. 2,42,26,347/-, covering AO's concerns. The tribunal deleted the additional disallowance of Rs. 63,48,487/-. Second, on maturity profits from Keyman Insurance Policies taxed as profit in lieu of salary, the tribunal followed the coordinate bench decision in Mihir Parikh case, holding that Section 10(10D) exemption applies without bifurcation of maturity amounts. en-us Thu, 17 Oct 2024 00:00:00 +0530 Thu, 21 Nov 2024 16:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762029 ITAT Mumbai allowed the assessee's appeal on two issues. First, regarding interest disallowance, the tribunal found that the assessee had already suo moto disallowed Rs. 39,49,392/- from claimed interest deductions of Rs. 2,02,76,955/- against total eligible deductions of Rs. 2,42,26,347/-, covering AO's concerns. The tribunal deleted the additional disallowance of Rs. 63,48,487/-. Second, on maturity profits from Keyman Insurance Policies taxed as profit in lieu of salary, the tribunal followed the coordinate bench decision in Mihir Parikh case, holding that Section 10(10D) exemption applies without bifurcation of maturity amounts. Case-Laws Income Tax Thu, 17 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762029