Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Disciplinary proportionality requires penalties for Authorised Representative misconduct to match proven harm, leading to reconsideration of registrat...
The Appellate Tribunal held that the assessee is entitled to exemption u/s 10(34) & 10(23AAB) in computing income of insurance business u/s 44, based on precedent and CIT (A) decision. Tax rate of 12.5% u/s 115B applies to assessee's income from Life Insurance Business. Addition u/s 80(JJAA) was not adjudicated by AO, but CIT (A) directed AO to consider it. The AO must verify and decide on the deduction claim u/s 80(JJAA) as per law after giving opportunity to assessee.
The Appellate Tribunal held that the assessee is entitled to exemption u/s 10(34) & 10(23AAB) in computing income of insurance business u/s 44, based on precedent and CIT (A) decision. Tax rate of 12.5% u/s 115B applies to assessee's income from Life Insurance Business. Addition u/s 80(JJAA) was not adjudicated by AO, but CIT (A) directed AO to consider it. The AO must verify and decide on the deduction claim u/s 80(JJAA) as per law after giving opportunity to assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
