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Income Tax - Highlights / Catch Notes

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Computation of income - business of carrying out life insurance ...


Court Rules Section 44 of Income Tax Act Solely Governs Taxable Income for Life Insurance Businesses.

March 16, 2023

Case Laws     Income Tax     HC

Computation of income - business of carrying out life insurance viz-a-viz investment amortization - Ms Jha’s submission that in the computation of profits and gains of the appellant/assessee insofar as its insurance business is concerned, only the provisions of Section 44 of the Act would apply, has weight and hence will have to be accepted. - HC

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