https://www.taxtmi.com/caselaws?id=775437 The ITAT Raipur held that the maturity proceeds received on surrender of a life insurance policy do not qualify for exemption under section 10(10D) if the single premium exceeds 20% of the sum assured. However, in this case, the addition made by the AO was based on an incorrect charging section and improper application of the law. Following relevant High Court precedents, the tribunal found the addition arbitrary and unsustainable. Consequently, the addition was deleted and the assessee's appeal was allowed. en-us Tue, 22 Jul 2025 00:00:00 +0530 Thu, 24 Jul 2025 12:28:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775437 The ITAT Raipur held that the maturity proceeds received on surrender of a life insurance policy do not qualify for exemption under section 10(10D) if the single premium exceeds 20% of the sum assured. However, in this case, the addition made by the AO was based on an incorrect charging section and improper application of the law. Following relevant High Court precedents, the tribunal found the addition arbitrary and unsustainable. Consequently, the addition was deleted and the assessee's appeal was allowed. Case-Laws Income Tax Tue, 22 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775437