Surrender proceeds of Unit Linked Insurance Policy treated as capital asset under section 2(14); assess as capital gains with indexation

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....ITAT held that surrender proceeds of a Unit Linked Insurance Policy constitute a "capital asset" within section 2(14) and directed the AO to assess accruals on surrender under the head "capital gains" with allowance for indexation, rejecting taxation as "income from other sources." The Tribunal observed that provisos to section 10(10D) effective 01.04.2021 are inapplicable to the assessment year in issue and that mere deduction of TDS does not determine the nature of the receipt. The AO is directed to re-assess the receipt as capital gains and to grant credit for TDS as reflected in Form 26AS when giving effect to this order.....