Disallowance of claim of deduction by LIC, under Section 80G of the Income Tax Act 1961

Last updated: 17 August 2021

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The Income Tax Appellate Tribunal has allowed an appeal by the Life Insurance Corporation of India (LIC) concerning the assessment year 2007-08. The tribunal quashed the reassessment proceedings initiated by the Assessing Officer. Consequently, the other grounds of appeal became academic and were not addressed.

Court :
ITAT Mumbai

Brief :
By way of this appeal, the assessee-appellant has challenged the correctness of the order dated 27th March 2019, passed by the learned CIT(A) in the matter of assessment u/s. 143(3) r.w.s 147 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) for the assessment year 2007-08.

Citation :
ITA No. 3402/Mum/2019

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1 Year PLAN

1999

(Excl. of GST ₹359)

2 Years PLAN

3499

(Excl. of GST ₹629)

BEST VALUE

3 Years PLAN

4999

(Excl. of GST ₹899)

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Attached File : 1442821_4203_1628071696_dictated_order.pdf

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Judgement posted by

Poojitha Raam Vinay

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I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

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