https://www.taxtmi.com/caselaws?id=787473 Whether exemption for insurance receipts applies where a keyman policy was assigned: the Tribunal applied the clarificatory Explanation inserted into the statute, treating a policy assigned during its term as remaining a keyman policy; following the Madras HC view, the assignment did not alter the policy's character and the assessee received no consideration, so the maturity proceeds fall within the statutory exclusion from exemption and are taxable in the assessee's hands. en-us Wed, 25 Feb 2026 00:00:00 +0530 Fri, 06 Mar 2026 08:30:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787473 Whether exemption for insurance receipts applies where a keyman policy was assigned: the Tribunal applied the clarificatory Explanation inserted into the statute, treating a policy assigned during its term as remaining a keyman policy; following the Madras HC view, the assignment did not alter the policy's character and the assessee received no consideration, so the maturity proceeds fall within the statutory exclusion from exemption and are taxable in the assessee's hands. Case-Laws Income Tax Wed, 25 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787473