https://www.taxtmi.com/caselaws?id=254810 Section 44 read with the First Schedule operates as a special code for computing insurance business income, so the general disallowance mechanism under section 14A cannot be superimposed on that statutory scheme; the disallowance was therefore deleted for the insurance company. A separate ground on computation of income and adoption of the return was not adjudicated by the first appellate authority and was remitted for fresh consideration. The substantive issue on section 14A was decided in favour of the assessee, while the unresolved computation issue was restored for adjudication. en-us Fri, 26 Dec 2014 00:00:00 +0530 Thu, 01 Jan 2015 09:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254810 Section 44 read with the First Schedule operates as a special code for computing insurance business income, so the general disallowance mechanism under section 14A cannot be superimposed on that statutory scheme; the disallowance was therefore deleted for the insurance company. A separate ground on computation of income and adoption of the return was not adjudicated by the first appellate authority and was remitted for fresh consideration. The substantive issue on section 14A was decided in favour of the assessee, while the unresolved computation issue was restored for adjudication. Case-Laws Income Tax Fri, 26 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254810