Supreme Court of India
Life Insurance Corporation of India & Anr. v. Gangadhar Vishwanath Ranade (dead) by Lrs.
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1 Supreme Court bench has cited this judgment.
From the headnote
Income Tax Act, 1961-Sections 226(3)(vi) and 281-Assignment of policies by insurer-Assignment accepted by LIC-ITO of opinion that transfer of policy with intent to defraud Revenue-/nordi-,,ate delay by L/ in making statement on oath before ITO-Liability of LIC to pay interest to assignee of policies for delay in fulfilling statutory obligation. One Sh. . V. Ranade took four policies on his own life from the L_IC during the period 1958 to 1960. In April 1969 .V. Ranade as signed absolutely all these four policies in favour of his wife Smt. Kamalabai . Ranade and the assignment was duly
Where later benches applied it
Of those, 1 mentioned
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