Characterization of receipts - correct head of income - ...

Case Laws Income Tax

August 5, 2023

Characterization of receipts - correct head of income - Surrender proceeds of the ULIP - the above mentioned policy will come under the purview of ‘capital asset’ as per section 2(14) of the Act for which the A.O. is directed to tax the accretion on surrender of the said policy under the head ‘income from capital gains’ and not as ‘income from other sources’ - AT

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Characterization of receipts - correct head of income - ...

Case Laws Income Tax

August 5, 2023

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