https://www.taxtmi.com/caselaws?id=772365 ITAT Mumbai remanded two issues to AO for fresh verification. First, regarding deduction u/s 10(10D) for LIC policy maturity proceeds after assignment of key man insurance policy, tribunal directed AO to obtain confirmation from LIC about genuineness and effective date of assignment on 06.05.2011, requiring formal request letter and acknowledgment. Second, concerning unexplained cash deposits of Rs. 30 lakhs, tribunal set aside CIT(A) order and directed AO to verify assessee's claim that cash sourced from earlier withdrawals by examining withdrawal patterns, household expenditure, and estimating cash utilization for marriage-related expenses. Both grounds allowed for statistical purposes pending factual verification. en-us Tue, 20 May 2025 00:00:00 +0530 Thu, 05 Jun 2025 10:57:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772365 ITAT Mumbai remanded two issues to AO for fresh verification. First, regarding deduction u/s 10(10D) for LIC policy maturity proceeds after assignment of key man insurance policy, tribunal directed AO to obtain confirmation from LIC about genuineness and effective date of assignment on 06.05.2011, requiring formal request letter and acknowledgment. Second, concerning unexplained cash deposits of Rs. 30 lakhs, tribunal set aside CIT(A) order and directed AO to verify assessee's claim that cash sourced from earlier withdrawals by examining withdrawal patterns, household expenditure, and estimating cash utilization for marriage-related expenses. Both grounds allowed for statistical purposes pending factual verification. Case-Laws Income Tax Tue, 20 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772365