https://www.taxtmi.com/caselaws?id=7395 A tax exemption notification under section 60(1) of the Indian Income-tax Act, 1922 overriding the special insurance computation rules meant interest on Mysore Darbar securities had to be excluded from the taxable surplus of the life insurance business. The special schedule governed computation, but it did not displace a general exemption granted under the Act, so the assessee was entitled to the exclusion. On limitation, revision under section 33B had to be made within two years from the date of the assessment order sought to be revised, not from the date of communication of the revisional order, and the Commissioner's order was therefore within time. en-us Tue, 17 Oct 1967 00:00:00 +0530 Thu, 19 Feb 2009 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7395 A tax exemption notification under section 60(1) of the Indian Income-tax Act, 1922 overriding the special insurance computation rules meant interest on Mysore Darbar securities had to be excluded from the taxable surplus of the life insurance business. The special schedule governed computation, but it did not displace a general exemption granted under the Act, so the assessee was entitled to the exclusion. On limitation, revision under section 33B had to be made within two years from the date of the assessment order sought to be revised, not from the date of communication of the revisional order, and the Commissioner's order was therefore within time. Case-Laws Income Tax Tue, 17 Oct 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7395