No rational basis to confine allowability of expenditure incurred on premium paid towards Keyman Insurance policy only in respect of life of an employee

DECIDED BY: HIGH COURT OF BOMBAY,

IN THE CASE OF: CIT Vs. B. N. Exports, APPEAL NO: ITA No. 2714 of 2009, DECIDED ON: March 31, 2010

RELEVANT PARAGRAPH

The effect of Clause 10 ­D is that a sum received under a life insurance policy is not to be included in computing the total income of any person. However, a sum received under a Key man Insurance Policy fo

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