Wednesday 21 October 2015
In case of Key man Insuance policy surrender value at the time of assignment is taxable as salary in the hands of assignee [Para 48]. However if sum equal to surrender value is paid by asignee to assignor, nothing is taxable in the hands of assignee[para 49]- Rajan Nanda(Delhi High Court)16-12-2011 ITA 400/2008
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