Insurance claim - There was neither any insurance claim received ...

Case Laws Income Tax

April 5, 2013

Insurance claim - There was neither any insurance claim received nor was any claim for damage debited to the profit and loss account and the claim having been settled in the subsequent financial year - no addition - HC

View Source

← Previous Next →

Insurance claim - There was neither any insurance claim received ...

Case Laws Income Tax

April 5, 2013

You may also like:

Deduction u/s 10AA - insurance claim for damage of fixed assets in a fire accident - amount received towards insurance claim cannot be considered to be a profit derived...

Taxability of claim for damages - enhanced compensation - No amount has been received till date by the Assessee pertaining to the damages as claimed by the assessee -...

Damaged inputs whether cleared from the factory premises or lying there only do not make any difference in recovery of Cenvat credit in the case of insurance claim being...

Duty demand - Insurance claim received against damaged gear boxes - gear box still lying in the factory - demand set aside - AT

Duty on insurance claim - The appellants have already paid duty on the clearance of damaged goods at the value on which they were sold - as such there is no...

Amount received by the assessee on maturity of the Keyman Insurance Policy - not eligible to claim exemption u/s 10(10D) - Legislature in its own wisdom never intended...

Damages/compensation received - nature of receipt - the amount received towards compensation/damage for settlement of dispute is capital receipt, hence not taxable.

Insurance company computing income u/s 44 is not required to include profits from sale of investments for periods prior to 01.04.2011 as per Rule 5, aligning with...

CENVAT Credit - insurance services - Motor Insurance Policy for motor vehicles against theft, damage and third-party liability - service tax paid on reimbursement of the...

Accrual of income - mere filing of insurance claim did not give any right to the assessee to receive income as the claim was not accepted by the insurance company. Had...

CENVAT credit - denial on the ground that the machine was received in damaged condition and insurance was claimed - when the machines received, installed and used for...

Refund claim - time limitation - validity of refund only to the service provider and not to the party being the service recipient - The appellants for the processing of...

The Circular addresses the taxability of salvage/wreck value in motor vehicle insurance claims under GST law. Insurance companies are not liable to pay GST on salvage...

The circular addresses the entitlement of Input Tax Credit (ITC) by insurance companies on repair expenses for motor vehicles in reimbursement mode of claim settlement....

Addition on account of insurance claim - ascertaining actual loss of stock in fire - we fail to understand as to why and how the assessee has written off partial claim...

Quick Updates: