https://www.taxtmi.com/caselaws?id=198779 The ITAT allowed the appeal of the assessee, directing the aggregation of surplus/deficit in the shareholders' account with the policyholders' account for determining profit/loss under Section 44 of the Income Tax Act. The issue of setting off losses under Sections 70 and 72 was not decided as the aggregation made it academic. The ITAT found no error in the AO's order and pronounced the decision on 22nd September 2016. en-us Thu, 22 Sep 2016 00:00:00 +0530 Thu, 08 Feb 2018 21:19:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198779 The ITAT allowed the appeal of the assessee, directing the aggregation of surplus/deficit in the shareholders' account with the policyholders' account for determining profit/loss under Section 44 of the Income Tax Act. The issue of setting off losses under Sections 70 and 72 was not decided as the aggregation made it academic. The ITAT found no error in the AO's order and pronounced the decision on 22nd September 2016. Case-Laws Income Tax Thu, 22 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198779