Which cases are most cited on Section 2(24)(iv)?

CIT v. Rajan Nanda (349 ITR 8) — 21 citing judgments; Commissioner of Income-Tax v. V.M. Salgaocar and Brothers Pvt. Ltd. (198 ITR 738) — 3 citing judgments; Commissioner of Income Tax v. M.K. Vaidya (224 ITR 186) — 3 citing judgments.

How many judgments are there on Section 2(24)(iv)?

BharatTax indexes 81 ITAT, High Court and Supreme Court judgments that turn on Section 2(24)(iv) of the Income Tax Act, 1961.

Section 2(24)(iv) of the Income Tax Act

Q: What is the leading case on Section 2(24)(iv) of the Income Tax Act?

CIT v. Rajan Nanda (349 ITR 8) is the decision most relied on for Section 2(24)(iv), cited in 21 judgments. An insurance policy assigned by an employer to an employee loses its character as a keyman insurance policy and becomes an ordinary life insurance policy, with tax implications determined by its status at the time of assignment.

The decision most relied on for Section 2(24)(iv) is CIT v. Rajan Nanda (349 ITR 8), cited in 21 of the 81 judgments on BharatTax that turn on this section.

Leading authorities on Section 2(24)(iv)

CIT v. Rajan Nanda

349 ITR 8 · 2012 · High Court

citing judgments

An insurance policy assigned by an employer to an employee loses its character as a keyman insurance policy and becomes an ordinary life insurance policy, with tax implications determined by its status at the time of assignment.

Commissioner of Income-Tax v. V.M. Salgaocar and Brothers Pvt. Ltd.

198 ITR 738 · 1992 · Reported

citing judgments

Commissioner of Income Tax v. M.K. Vaidya

224 ITR 186 · 1997 · High Court

citing judgments

Judgments on Section 2(24)(iv)

Sharad Kumar, Chennai vs. Deputy Commissioner of Income Tax, Media Circle

In the result, appeal filed by the assessee is allowed

ITA 1381/CHNY/2024[2010-2011]Status: DisposedITAT Chennai18 Sept 2024AY 2010-2011

Bench: Shri Aby T. Varkey & Shri S.R.Raghunathaआयकर अपील सं./Ita No.1381/Chny/2024 िनधा"रण वष"/Assessment Year: 2010-11 V. Mr. Sharad Kumar, The Dcit, New No.6, Old No.7, Media Circle-1, Nawab Habibullah Avenue, Chennai. 3Rd Street, Chennai-6. [Pan: Aasps 2554 F] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr. D. Anand, AdvFor Respondent: Ms. T.M.Suganthamala

Section 2(24)(iv)

Bijender Singh Lohia, New Delhi vs. JCIT (OSD), Central Circle-26, New Delhi

The appeals are allowed

ITA 1529/DEL/2022[2016-17]Status: DisposedITAT Delhi16 Apr 2024AY 2016-17

Bench: Shri M. Balaganesh & Shri Anubhav Sharma

For Appellant: Shri Gaurav Jain, Advocate &For Respondent: Ms Sunita Verma, CIT, DR

Section 132Section 132(1)Section 143(1)Section 143(2)Section 153ASection 153DSection 2(24)(iv)Section 69C

Bijender Singh Lohia, New Delhi vs. JCIT (OSD), Central Circle-26, New Delhi

The appeals are allowed

ITA 1528/DEL/2022[2015-16]Status: DisposedITAT Delhi16 Apr 2024AY 2015-16

Bench: Shri M. Balaganesh & Shri Anubhav Sharma

For Appellant: Shri Gaurav Jain, Advocate &For Respondent: Ms Sunita Verma, CIT, DR

Section 132Section 132(1)Section 143(1)Section 143(2)Section 153ASection 153DSection 2(24)(iv)Section 69C

Jai Shankar Srivastava, Gurgaon vs. DCIT, Central Circle- 18, New Delhi

ITA 7114/DEL/2017[2014-15]Status: DisposedITAT Delhi13 Dec 2023AY 2014-15

Bench: Sh. N. K. Billaiya & Sh. C.N. Prasadassessment Year: 2014-15 Jai Shankar Srivastava, Vs. Dcit Central Circle – 18 D-153, Pinnacle, Dlf New Delhi Phase-5, Gurgaon Haryana 122002 Pan No.Apqps0001J (Appellant) (Respondent) Appellant By None Respondent By Sh. Rohit Garg, Cit Dr Date Of Hearing: 13/12/2023 Date Of Pronouncement: 13/12/2023 Order Per N. K. Billaiya, Am:

Section 132Section 132(1)Section 132(1)(a)Section 143(2)Section 153(1)(a)Section 153ASection 2(24)(iv)Section 2(31)Section 2(45)Section 28

ITO, Ward-52(1), New Delhi vs. Arti Jindal, Delhi

ITA 1502/DEL/2021[2014-2015]Status: DisposedITAT Delhi02 Nov 2023AY 2014-2015

Bench: Shri N. K. Billaiya & Shri Anubhav Sharma

Section 143(1)Section 143(3)Section 148

DCIT, Central Circle-1, Gurugram vs. Deepak Kumar, New Delhi

In the result, the appeals of the Revenue are dismissed

ITA 7716/DEL/2018[2016-17]Status: DisposedITAT Delhi19 Apr 2023AY 2016-17

Bench: Smt. Diva Singhdr. B. R. R. Kumar

For Appellant: Sh. Parikshit Aggarwal, CAFor Respondent: Sh. T. James Singson, CIT DR

Section 132(4)Section 143(3)Section 2(22)Section 2(24)(iv)Section 245D(4)Section 254

DCIT, Central Circle-1, Gurugram vs. Bharat Bhushan Kumar, New Delhi

In the result, the appeals of the Revenue are dismissed

ITA 7715/DEL/2018[2016-17]Status: DisposedITAT Delhi19 Apr 2023AY 2016-17

Bench: Smt. Diva Singhdr. B. R. R. Kumar

For Appellant: Sh. Parikshit Aggarwal, CAFor Respondent: Sh. T. James Singson, CIT DR

Section 132(4)Section 143(3)Section 2(22)Section 2(24)(iv)Section 245D(4)Section 254

ACIT, New Delhi vs. Shri Shiv Priya, Delhi

In the result, all the appeals of the assessee are allowed for statistical purposes

ITA 5595/DEL/2016[2014-15]Status: HeardITAT Delhi17 Jan 2023AY 2014-15

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

For Appellant: NoneFor Respondent: Shri H.K. Choudhary, CIT- DR

Section 115BSection 139Section 153ASection 2Section 2(22)(iv)Section 2(24)(iv)

ACIT, New Delhi vs. Shri Shiv Priya, Delhi

In the result, all the appeals of the assessee are allowed for statistical purposes

ITA 5594/DEL/2016[2013-14]Status: HeardITAT Delhi17 Jan 2023AY 2013-14

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

For Appellant: NoneFor Respondent: Shri H.K. Choudhary, CIT- DR

Section 115BSection 139Section 153ASection 2Section 2(22)(iv)Section 2(24)(iv)

ACIT, New Delhi vs. Shri Shiv Priya, Delhi

In the result, all the appeals of the assessee are allowed for statistical purposes

ITA 5593/DEL/2016[2012-13]Status: HeardITAT Delhi17 Jan 2023AY 2012-13

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

For Appellant: NoneFor Respondent: Shri H.K. Choudhary, CIT- DR

Section 115BSection 139Section 153ASection 2Section 2(22)(iv)Section 2(24)(iv)

Sivakumaran Pugazhendhi, Chennai vs. PCIT, Chennai-4

In the result, the appeal of the assessee is allowed

ITA 27/CHNY/2022[2014-15]Status: DisposedITAT Chennai21 Sept 2022AY 2014-15

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita No.27/Chny/2022 िनधा"रण वष" /Assessment Year: 2014-15 Sivakumaran Pugazhendhi, The Principal Commissioner 70 Raja Agraharam Street, Vs. Of Income Tax, Poonamalle, Chennai-4. Chennai – 600 056. [Pan: Aiapp-7309-R] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Ms. T.V. Muthu Abirami, Advocate ""यथ" क" ओर से /Respondent By : Shri M. Rajan, Cit सुनवाई क" तारीख/Date Of Hearing : 05.09.2022 : 21.09.2022 घोषणा क" तारीख /Date Of Pronouncement आदेश / O R D E R

For Appellant: Ms. T.V. Muthu Abirami, AdvocateFor Respondent: Shri M. Rajan, CIT

Section 143(3)Section 147Section 263

ITO, Ward-11(3), New Delhi vs. Reetu Sharma, New Delhi

In the result, appeal of the Revenue is dismissed

ITA 5344/DEL/2017[2008-09]Status: DisposedITAT Delhi18 Feb 2021AY 2008-09

Bench: Sh. Anil Chaturvedi & Sh. Amit Shukla(Through Video Conferencing) Assessment Year : 2008-09 Ito Vs. Reetu Sharma Ward-11(3), B-30, Block-B, New Delhi Jhilmil Colony, Shahdra, New Delhi-110095 Pan : Bwtps 1911 C (Appellant) (Respondent) Assessee By Shri Govind Singhal, Sr. Dr Revenue By Shri P. C. Yadav, Adv. Date Of Hearing: 18/02/2021 Date Of Pronouncement: 18/02/2021 Order Per Anil Chaturvedi, Am:

Section 101Section 132Section 139(1)Section 143(3)Section 147Section 153CSection 2(24)(iv)Section 292B

Mr. Krishna Kumar Pant, New Delhi vs. DCIT, New Delhi

ITA 5574/DEL/2011[2005-06]Status: DisposedITAT Delhi21 Dec 2020AY 2005-06

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing) Assessment Year 2005-06

For Appellant: Shri Tarandeep Singh, CAFor Respondent: Shri Vipul Kashyap, Sr.D.R

Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 17(2)(iii)Section 2(24)(iv)Section 234B

Mr. Sanjiv Narayan, New Delhi vs. DCIT, New Delhi

ITA 5546/DEL/2011[2005-06]Status: DisposedITAT Delhi21 Dec 2020AY 2005-06

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing) Assessment Year 2005-06

For Appellant: Shri Tarandeep Singh, CAFor Respondent: Shri Vipul Kashyap, Sr.D.R

Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 17(2)(iii)Section 2(24)(iv)Section 234B

Mr. Ranjeet Singh, Gurgaon vs. DCIT, New Delhi

ITA 5513/DEL/2011[2005-06]Status: DisposedITAT Delhi21 Dec 2020AY 2005-06

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing) Assessment Year 2005-06

For Appellant: Shri Tarandeep Singh, CAFor Respondent: Shri Vipul Kashyap, Sr.D.R

Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 17(2)(iii)Section 2(24)(iv)Section 234B

Mr. J.S. Gujral, Gurgaon vs. DCIT, New Delhi

ITA 5512/DEL/2011[2005-06]Status: DisposedITAT Delhi21 Dec 2020AY 2005-06

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing) Assessment Year 2005-06

For Appellant: Shri Tarandeep Singh, CAFor Respondent: Shri Vipul Kashyap, Sr.D.R

Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 17(2)(iii)Section 2(24)(iv)Section 234B

Glebe Trading P.Ltd, New Delhi vs. ITO, Ward-10(2), New Delhi

Appeal is allowed

ITA 191/DEL/2019[2014-15]Status: DisposedITAT Delhi12 May 2020AY 2014-15

Bench: Ms Suchitra Kamble & Shri Prashant Maharishiglebe Trading Pvt. Ltd. Vs Ito 28, Shivaji Marg, Ramesh Nagar, Ward-10(2) Najafgarh Road, C. R. Building New Delhi New Delhi Aaecg0208K (Appellant) (Respondent)

Section 2(24)Section 2(24)(iv)