https://www.taxtmi.com/caselaws?id=7119 Statutory insurance-company accounts and the assessee's conduct supported the conclusion that house property assets formed part of the insurance business, not a separate investment business. The absence of any resolution, separate treatment, or return of the properties as property income, together with consistent claim of related expenses in insurance accounts, showed that the assets were held within the insurance undertaking. On that basis, profit on transfer of the properties fell within the special computation rules applicable to insurance business, and the sum realised was assessable under the Schedule relied upon by the revenue. en-us Wed, 07 Feb 1968 00:00:00 +0530 Tue, 10 Feb 2009 19:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7119 Statutory insurance-company accounts and the assessee's conduct supported the conclusion that house property assets formed part of the insurance business, not a separate investment business. The absence of any resolution, separate treatment, or return of the properties as property income, together with consistent claim of related expenses in insurance accounts, showed that the assets were held within the insurance undertaking. On that basis, profit on transfer of the properties fell within the special computation rules applicable to insurance business, and the sum realised was assessable under the Schedule relied upon by the revenue. Case-Laws Income Tax Wed, 07 Feb 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7119