Case Law Details
Case Name : Ravjibhai L. Kakadia Vs. ACIT (ITAT Mumbai)
Related Assessment Year : 2015-2016
Courts :
All ITAT ITAT Mumbai
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Ravjibhai L. Kakadia Vs. ACIT (ITAT Mumbai)
The issue under consideration is whether the maturity value of the Keyman Insurance Policy is taxable under Income Tax Act and under which Head?
It is the case of the assessee that Keyman Insurance Policy being in the nature of a capital asset, as defined under section 2(14) of the Act, gain derived there from is taxable under the head capital gain. At this stage, we propose to deal with the definition of capital asset as provided under section 2(14) of the Act. A reading of the aforesaid provision shows that a property of any kind held by the as...
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How can we check if there is some further order by high court in this matter. Please suggest