https://www.taxtmi.com/caselaws?id=274814 Income from a life insurance business is computed under section 44 read with the First Schedule on the basis of actuarial valuation, and the Assessing Officer cannot rework the actuarial surplus or separately tax the surplus in the shareholders account. The note also states that a pension fund remains part of the insurance business for section 44 purposes, so any loss from that fund may be adjusted against the overall insurance surplus even if the fund's income is exempt under section 10(23AAB). en-us Thu, 30 Mar 2017 00:00:00 +0530 Wed, 05 Sep 2018 12:43:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274814 Income from a life insurance business is computed under section 44 read with the First Schedule on the basis of actuarial valuation, and the Assessing Officer cannot rework the actuarial surplus or separately tax the surplus in the shareholders account. The note also states that a pension fund remains part of the insurance business for section 44 purposes, so any loss from that fund may be adjusted against the overall insurance surplus even if the fund's income is exempt under section 10(23AAB). Case-Laws Income Tax Thu, 30 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274814