https://www.taxtmi.com/caselaws?id=180499 The Appellate Tribunal ruled in favor of the assessee, a corporate entity in the life insurance business, regarding the taxability of dividend income and the disallowance of expenditure for earning dividend income. The Tribunal held that the dividend income, exempt under Section 10(34), should be excluded from taxable income under Section 44. Additionally, it determined that Section 14A disallowances were not applicable to insurance businesses governed by Section 44 and Schedule 1, deleting the entire disallowance amount. en-us Fri, 30 Sep 2011 00:00:00 +0530 Wed, 29 Nov 2017 16:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180499 The Appellate Tribunal ruled in favor of the assessee, a corporate entity in the life insurance business, regarding the taxability of dividend income and the disallowance of expenditure for earning dividend income. The Tribunal held that the dividend income, exempt under Section 10(34), should be excluded from taxable income under Section 44. Additionally, it determined that Section 14A disallowances were not applicable to insurance businesses governed by Section 44 and Schedule 1, deleting the entire disallowance amount. Case-Laws Income Tax Fri, 30 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180499