Allowing the appeal of the revenue the Tribunal held that , Premium paid for Keyman Insurance was allowable in year in which premium was paid. ( AY. 2008-09 to 2012-13)
ACIT v. K.R. Kaviraj. (2018) 168 ITD 491 (Bang) (Trib.)
S.37(1): Business expenditure -Premium paid for Keyman Insurance was allowable in year in which premium was paid.