Insurance Premium for paid for Keyman Insurance Policy of LIC, allowable as Expenses: ITAT [Read Order]

Insurance Premium - Keyman Insurance Policy - LIC - Keyman Insurance Policy of LIC - Expenses - ITAT - Income Tax - taxscan

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), held that Insurance Premium for paid for Keyman insurance policy of Life Insurance Corporation of India (LIC) and is allowable as expenses. The only ground raised in the appeal is that the CIT(A) has erred in law and on facts in allowing the claim of…

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