https://www.taxtmi.com/caselaws?id=772117 ITAT Ahmedabad set aside the matter regarding taxation of maturity proceeds from Max Life Insurance ULIP plan back to the Assessing Officer. The case involved whether ULIP proceeds were exempt under Section 10(10D) or chargeable as income from other sources. The assessee's contention that ULIP sale constituted capital gains was not examined by lower authorities, particularly considering the Mihir K. Jhaveri precedent regarding Section 2(14)(c) amendment. The tribunal allowed the appeal for statistical purposes, directing fresh consideration with proper hearing opportunity. en-us Mon, 26 May 2025 00:00:00 +0530 Wed, 04 Jun 2025 08:40:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772117 ITAT Ahmedabad set aside the matter regarding taxation of maturity proceeds from Max Life Insurance ULIP plan back to the Assessing Officer. The case involved whether ULIP proceeds were exempt under Section 10(10D) or chargeable as income from other sources. The assessee's contention that ULIP sale constituted capital gains was not examined by lower authorities, particularly considering the Mihir K. Jhaveri precedent regarding Section 2(14)(c) amendment. The tribunal allowed the appeal for statistical purposes, directing fresh consideration with proper hearing opportunity. Case-Laws Income Tax Mon, 26 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772117