Premium paid by Company towards Life Insurance Policy of Director in Individual Capacity Not “Business Expenditure”: ITAT [Read Order]

Premium paid - Premium - Life Insurance Policy - Life Insurance - Business Expenditure - ITAT - Income Tax - Tax - taxscan

Income Tax Appellate Tribunal ( ITAT ) Pune Bench ruled that the premium paid by the company towards the Life Insurance Policy of the Director in individual capacity is not Business Expenditure. The assessee Gadgil Holdings Pvt. Ltd., engaged in the business of consultancy and investments filed an appeal against the order of Commissioner of…

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