https://www.taxtmi.com/caselaws?id=796594 Maturity proceeds from a foreign life-insurance policy were treated as neither undisclosed foreign income nor an undisclosed foreign asset where the premium sources were satisfactorily explained. Premiums paid from salary earned during non-resident status, which was not chargeable to tax in India, and later from disclosed taxable Indian salary fell outside the category of undisclosed foreign assets under applicable CBDT clarifications. Section 10(10D) exempts sums received under a life-insurance policy without requiring that the insurer be an Indian company; no such restriction can be introduced by interpretation. The proceeds were therefore exempt under Section 10(10D). en-us Fri, 31 Jul 2026 00:00:00 +0530 Fri, 07 Aug 2026 09:07:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796594 Maturity proceeds from a foreign life-insurance policy were treated as neither undisclosed foreign income nor an undisclosed foreign asset where the premium sources were satisfactorily explained. Premiums paid from salary earned during non-resident status, which was not chargeable to tax in India, and later from disclosed taxable Indian salary fell outside the category of undisclosed foreign assets under applicable CBDT clarifications. Section 10(10D) exempts sums received under a life-insurance policy without requiring that the insurer be an Indian company; no such restriction can be introduced by interpretation. The proceeds were therefore exempt under Section 10(10D). Case-Laws Income Tax Fri, 31 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796594