Business of Life Insurance - Income transferred to policy...
Income Transferred to Policyholders' Account is a Charge, Not Application of Income, AO Excludes from Taxation.
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Income TaxJune 17, 2013Case LawsAT
Business of Life Insurance - Income transferred to policy holders' a/c. was not application of income-it was charge on income and therefore AO had rightly excluded it from taxation. - AT