that since the
expenditure incurred on the premia paid on the said keyman
insurance policies was much more that the amount realized
by the assessee ... Assessing Officer by disallowing the
business expenditure claimed in respect of keyman
insurance premium?"
12. Mr. N.P. Sahni, learned counsel who appeared
being the premium paid by the appellant on the Keyman Insurance
Policies. The learned CIT(A) erred in holding that the concerned
policies were ... Keyman Insurance Policies and failed to appreciate
the definition of Keyman insurance Policy as given in the Explanation
to section
Jain, Member (A)
Chet Ram, S/o Shri Raghubir Singh, Keyman, Unit No.19, Under Sr. Section Engineer ( P. Way), Northern Railway, Faridabad Old Railway ... passed in year 2001 equivalent to the juniors of the applicant as keyman.
iii) direct the respondents to consider the case of the applicant
erred in deleting Rs.16,24,153/- being premium for
Keyman Insurance Policies, placing reliance on the CBDT's Cir.
No.762 dated ... that a
sum of Rs.16,24,153/- was claimed as "Keyman Insurance Policy". It
was found by the Assessing Officer that
made by AO on
the issue of Keyman Insurance premium paid on the life
of partner.
2. That the ld. CIT(A) has erred ... which say that, "For
the purposes this clause,"keyman insurance policy' means
a life insurance policy taken by a person
made by the Assessing officer on account of
disallowance of Keyman Insurance Policy Premium?"
(iv) Whether,
on the facts and in the circumstances ... made by the Assessing
Officer on account of disallowance of Keyman Insurance Policy
Premium. Tribunal relied on Bombay Tribunal's order passed
Office, LIC Ltd. the Applicant sought similar detailed information about all the
Keyman Insurance policies taken in the Southern Zone along with information related ... Respondent explained that the keyman being essential for the growth of the company
("Proposer" )any disclosure of the identity of the keyman will
Office, LIC Ltd. the Applicant sought similar detailed information about all the
Keyman Insurance policies taken in the Southern Zone along with information related ... Respondent explained that the keyman being essential for the growth of the company
("Proposer" )any disclosure of the identity of the keyman will
Office, LIC Ltd. the Applicant sought similar detailed information about all the
Keyman Insurance policies taken in the Southern Zone along with information related ... Respondent explained that the keyman being essential for the growth of the company
("Proposer" )any disclosure of the identity of the keyman will
facts in deleting the
disallowance of Rs.9,97,260/- out of Keyman Insurance Premium.
[3] The Ld. CIT(A) has erred ... appeal relates to disallowance of Rs.9,97,260/- on
account of keyman insurance premium. The AO noticed that keyman insurance
policy was taken
