https://www.taxtmi.com/caselaws?id=463507 ITAT (Jaipur) held the policy was an insurance-cum-investment product and proceeds on surrender/maturity are taxable as capital gains, not income from other sources. The tribunal accepted the assessee's grievance that the return arose from an investment-linked life policy and directed the AO to determine and compute any long-term capital gain tax payable, assessing real income notwithstanding earlier erroneous return based on professional advice. en-us Mon, 01 Aug 2022 00:00:00 +0530 Thu, 04 Sep 2025 19:12:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463507 ITAT (Jaipur) held the policy was an insurance-cum-investment product and proceeds on surrender/maturity are taxable as capital gains, not income from other sources. The tribunal accepted the assessee's grievance that the return arose from an investment-linked life policy and directed the AO to determine and compute any long-term capital gain tax payable, assessing real income notwithstanding earlier erroneous return based on professional advice. Case-Laws Income Tax Mon, 01 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463507