SELINA N. SHETH ,MUMBAI vs. INCOME TAX OFFICER -17(3)(1), MUMBAI
In the result, the ground No
ITA 2352/MUM/2025[2017-18]Status: DisposedITAT Mumbai28 Aug 2025AY 2017-18
Bench: Shri Pawan Singh(Physical Hearing) Selina N. Sheth Ito, Ward – 17(3)(1), M/S. Kalyaniwalla & Mistry Llp, Vs Aayakar Bhawan, M.K. Road, Esplanade House, 2Nd Floor, Mumbai – 400020. 29 Hazarimal Somani Marg, Fort, Mumbai – 400001. [Pan: Aabps9851L] Appellant / Assessee Respondent / Revenue
Section 10(38)Section 148Section 2(14)Section 254(1)Section 57
ULIP, which Policies
are not exempt under section 10(10D). Prior to this insertion in Section
56(2)(xiii) and correspondingly in Section 2(24)(xviid), there was no provision
to tax the maturity proceeds of a Life Insurance Policy as income. This is
besides the fact that even today
