curities/investments.
2.Disallowance of
Rs.1,50,000/- on
'keyman insurance'.
5. ITA No.402/Asr/2010 2007-08 Revenue ... loss on revaluation.
2.Disallowance of
Rs.1,50,000/- on
'keyman insurance'.
13. ITA No. 288/Asr/2013 2010-11 Revenue
which reads as under:-
Taxation of sum received under the Keyman Insurance Policy
14.1 Keyman Insurance Policy of the Life Insurance Corporation of India ... which may occur from the employee's
premature death. The "Keyman" is an employee or a director, whose services
are perceived
representing the amount equivalent to
surrender value on assignment of Keyman Insurance Policy by the Firm
ITA No. 130/JP/16
Ravi Poddar Vs. ACIT ... also erred in confirming the event of the assignment of
Keyman Insurance Policy in favour of the appellant by the Firm
resulting into income liable
Assessing Officer made additions of Rs.49,75,054/- on
account of Keyman Insurance Policy of Rs.23,23,241/- on
account of disallowance ... deleted the addition of Rs.49,75,054/- on account of
Keyman Insurance Policy stating that the documents
regarding expenses were produced before
fresh order in which the
claim of the assessee in connection with Keyman Insurance Policy
was allowed in case titled as Suri Sons Vs. ACIT ... available on
record. It is seen that the assessee has bought two keyman
Insurance Policies viz., Tata AIG life insurance policy and Bajaj
Allianz
Keyman Trading Company P.Ltd, Mumbai vs Ito Wd 5(2)(2), Mumbai on 24 August, 2017
THE INCOME TAX APPELLATE TRIBUNAL ... 2684/Mum/2017 (Assessment Year 2009-10)
M/s. Keyman Trading ITO Ward 5(2)(2)
Company Private Limited Vs. Room No. 526
Room
ARVIND J. ROHEE, MEMBER (JUDICIAL)
The applicant, who is the
former Keyman working with the
respondent No.2 has grievance regarding
the impugned order dated ... Nagpur 440 001.
No.E/LMC/D&A/Sayyed Aslam Ali/ Keyman/
SSE/PW/BRD/120 Dated : 15.03.2017
To,
Shri Sayyed Aslam
find that the assessee had claimed an expenditure
of 45 lacs as Keyman Insurance Policy which the Assessing Officer had
disallowed. However ... ground no. 5 had agitated against the deletion of
expenses incurred on Keyman Insurance Policy. The Hon'ble Tribunal
vide order dated 21.05.2014 accepted
which has
been added by the AO on account disallowances of
keyman insurance policy, during the relevant
financial year, in spite of the facts ... disallowance of Rs.9,50,150/- by
AO made on account of keyman issuance policy stating that
assessee failed to produce any admissible evidence during
Most. Mani Devi wife of Late Gopal Rai, Keyman PH Sub.Div. Dalsinghsarai,
Samastipur at present resident of village -Bangaon, P.S.- Bangaon, District- Saharsa ... 31st January, 2013 while discharging
his duties on daily wage employment as Keyman under P.H. Sub
Division, Dalsinghsarai, Samastipur for the period from June
