9911796707
TMI Blog2015 (9) TMI 1718X X X X Extracts X X X X X X X X Extracts X X X X ..... ollowing the decision of this Court in General Insurance Corporation of India vs. Deputy Commissioner of Income Tax anr [ 2011 (12) TMI 70 - BOMBAY HIGH COURT] and its own decision in the case of ICICI Prudential Insurance [ 2012 (11) TMI 13 - ITAT MUMBAI] Revenue very fairly states that the revenue's appeal on this issue from the order of ITAT in ICICI Prudential Insurance Co.Ltd (supr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3 with INCOME TAX APPEAL NO.116 OF 2014 with INCOME TAX APPEAL NO.2162 OF 2013 - - - Dated:- 15-9-2015 - M.S. SANKLECHA AND G.S. KULKARNI, JJ. For the Appellant : Mr.Suresh Kumar Advocate for For the Respondent : Mr.F.V.Irani with Mr.A.K.Jasani Advocates ORDER P.C. Income Tax Appeal Nos.2162 of 2013 and 116 of 2014 are not on Board. Upon mentioning taken up for admi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cluded as an income by actuary; B. Whether on the facts and in the circumstances of the case and in law, the ITAT erred in not appreciating that negative reserve has an impact of reducing the taxable surplus as per Form-I and therefore, corresponding adjustment for negative reserve need to be made to arrive at taxable surplus. 4. So far as question (A) is concerned, we find that the impugne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uestion (B) is concerned, we find that the order of the ITAT has allowed the respondent-assessee's appeal by following its decision in ICICI Prudential Insurance Co. Ltd rendered in respect of Assessment year 2006-07. Mr.Suresh Kumar learned counsel appearing for the revenue very fairly states that the revenue's appeal on this issue from the order of the Tribunal in ICICI Prudential Insura ..... X X X X Extracts X X X X X X X X Extracts X X X X
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