A cutting tool assembly rotatable about an axis of rotation comprising a tool and a plurality of cutting inserts mounted therein. The tool comprises a crown affixed to a tool body. Each one of the cutting inserts has an even number of indexable cutting edges and is clamped in the tool in an insert receiving pocket that is generally radially directed. The tool body has a conical surface against which the cutting inserts abut, the conical surface extends to the periphery of the tool body, is inwardly rearwardly slanted and has equally peripherally distributed substantially radially directed recesses.