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2022 (10) TMI 102 - AT - Income TaxDeduction u/s 80C - Premium paid towards that insurance policy - HELD THAT:- As taking note of contention of the assessee in respect of premium paid to the insurance company cannot be brought to tax subject to the fact that assessee shall not avail deduction u/s 80C of the Act in respect of premium paid towards that insurance policy. Being so, we remit this issue to the file of AO to consider only net amount as discussed above to taxation provided assessee has not claimed deduction u/s 80C of the Act in respect of premium paid on life insurance policy or claimed any deduction u/s 10(10D) of the Act. With this observation, we remit this issue to the file of AO for fresh consideration after hearing to the assessee. Appeal filed by the assessee is partly allowed for statistical purposes.
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